Beijing has unveiled a private pension scheme that will let people save funds in pension accounts, invest in financial products and better prepare for retirement. Photo: AFP
China population: a private pension plan is coming, but will people carve out a piece of their savings?
- For the first time ever, tax deductions will be available on personal pension contributions, to encourage participation in the coming private pension system
- Private scheme will be rolled out with one-year trials in some cities before being implemented nationwide
Beijing has unveiled a private pension scheme that will let people save funds in pension accounts, invest in financial products and better prepare for retirement. Photo: AFP
