Government Set Aside Nearly USD50 Billion in Pension Insurance Funds for Investment, Social Security Ministry Says

Government Set Aside Nearly USD50 Billion in Pension Insurance Funds for Investment, Social Security Ministry Says

Xu Wei

Date: Fri, 04/27/2018 - 20:07 / source:Yicai
Government Set Aside Nearly USD50 Billion in Pension Insurance Funds for Investment, Social Security Ministry Says
Government Set Aside Nearly USD50 Billion in Pension Insurance Funds for Investment, Social Security Ministry Says

(Yicia Global) April 27 -- The governments of 12 provinces have linked up with the National Council for Social Security to sign entrusted investment contracts worth (CNY475 billion) USD75.4 billion as of the end of March, leading to USD48.7 billion being allocated for investment.

China will exert efforts in terms of risk prevention and social security fund controls to strengthen the investment operation, the social security ministry said in a press conference.

The pension insurance fund investments will be sorted by category and promoted in all provinces nationally to kick off entrusted investment in urban and rural pension insurance schemes.

The social security ministry will also implement interim measures for the management of occupational annuity funds, pressing ahead with their professional and orderly management, and steadily promote the transfer of state-owned capital to enrich social security funds.

Editor: William Clegg

 

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Keywords: MOHRSS, Pension