Pension tsunami in China: What to know about a deadly pension tsunami

Pension tsunami in China: What to know about a deadly pension tsunami

August 13, 2021 Comments Off on Pension tsunami in China: What to know about a deadly pension tsunami By admin

China is facing a pension tsunami as it grapples with an ageing population, its largest ever.

But one of the country’s largest pension funds says it is already on the way out, after its pension funds saw their total assets plunge by an average of 7.5 per cent in the three months to June. 

The People’s Investment Fund, or PIF, has seen assets drop by $4.9bn in the past three months, according to its latest annual report. 

Its assets have plunged by nearly half of that amount, or $1.8bn. 

PIF is one of China’s biggest pension funds, with an estimated $6.3bn in assets, and the largest of China. 

“The losses in the PIF pension funds have been unprecedented and have resulted in the collapse of a very healthy pension fund,” said Zhang Yan, who oversees PIF’s investment portfolio.

“Our pension funds are not going to last much longer.” 

The PIF has been hit by two pension crises in recent years, which the fund says have left the pension fund’s management with huge amounts of debt. 

In 2014, the fund’s total liabilities stood at $3.5bn, or just over half of its total assets, according the report.

In 2016, the PIMF’s total assets dropped by almost a quarter, to $2.6bn, according a Reuters analysis of financial statements. 

Last month, the pension funds’ assets were at $2bn, a drop of $1bn, but the decline in assets was largely due to the collapse in pension fund revenues. 

Meanwhile, the Chinese government has been struggling to make up for years of pension shortfall, a shortfall that was estimated to be around $US7.8 trillion in 2014. 

While it has not yet said how it will make up the shortfall, Mr Zhang said that the Chinese pension fund system had suffered from structural changes and the government’s attempt to tackle structural problems had left the system vulnerable. 

It is now clear that structural changes, such as the retirement age, have contributed to the pension crisis, he added. 

China’s financial system has been under intense scrutiny, particularly as the economy is in its worst downturn in decades, with the PBOC cutting interest rates to record lows in an attempt to encourage a recovery in the market. 

Analysts have been quick to point out that the government has taken the wrong approach in its efforts to stem the pension debt crisis, with several analysts pointing to a lack of investment by the government and the PBCC to rein in the pension system’s debts.

But Mr Zhang dismissed the criticism.

“Our government has managed the pension crises, we just managed the public debt crisis,” he said.

“It’s not the other way around.

If the PBMC fails, the PBUC fails, and if the PBIC fails, we fail.”

China has been facing massive pension debt as the country continues to grapple with the pension shortfall and structural changes. 

At the same time, Mr Yan has been saying that the PBC and PBCC have done little to stop the spiralling of the pension deficit.

He said the PBEC has not intervened, despite the need for a structural solution to the problem, and has not even addressed the problem in its annual report, despite several attempts.

This year, the two governments have both agreed to the idea of reducing the retirement ages to 75, a move that will bring the retirement years to an end. 

But Mr Yan said the problem was still too large, and that the pension problem was more likely to be solved by introducing a government-led solution.

“[We need] a real, long-term structural change, not a government solution,” he added, adding that it was crucial to get rid of the structural problems.

The PBCC and PBEC both responded to Mr Zhang’s comments by saying the PBFCs and PBUCs would continue to work with the government to resolve the pension problems.

Sponsor Partner

우리카지노 - 【바카라사이트】카지노사이트인포,메리트카지노,샌즈카지노.바카라사이트인포는,2020년 최고의 우리카지노만추천합니다.카지노 바카라 007카지노,솔카지노,퍼스트카지노,코인카지노등 안전놀이터 먹튀없이 즐길수 있는카지노사이트인포에서 가입구폰 오링쿠폰 다양이벤트 진행.우리카지노 | 카지노사이트 | 더킹카지노 - 【신규가입쿠폰】.우리카지노는 국내 카지노 사이트 브랜드이다. 우리 카지노는 15년의 전통을 가지고 있으며, 메리트 카지노, 더킹카지노, 샌즈 카지노, 코인 카지노, 파라오카지노, 007 카지노, 퍼스트 카지노, 코인카지노가 온라인 카지노로 운영되고 있습니다.우리카지노 | TOP 카지노사이트 |[신규가입쿠폰] 바카라사이트 - 럭키카지노.바카라사이트,카지노사이트,우리카지노에서는 신규쿠폰,활동쿠폰,가입머니,꽁머니를홍보 일환으로 지급해드리고 있습니다. 믿을 수 있는 사이트만 소개하고 있어 온라인 카지노 바카라 게임을 즐기실 수 있습니다.바카라 사이트【 우리카지노가입쿠폰 】- 슈터카지노.슈터카지노 에 오신 것을 환영합니다. 100% 안전 검증 온라인 카지노 사이트를 사용하는 것이좋습니다. 우리추천,메리트카지노(더킹카지노),파라오카지노,퍼스트카지노,코인카지노,샌즈카지노(예스카지노),바카라,포커,슬롯머신,블랙잭, 등 설명서.한국 NO.1 온라인카지노 사이트 추천 - 최고카지노.바카라사이트,카지노사이트,우리카지노,메리트카지노,샌즈카지노,솔레어카지노,파라오카지노,예스카지노,코인카지노,007카지노,퍼스트카지노,더나인카지노,바마카지노,포유카지노 및 에비앙카지노은 최고카지노 에서 권장합니다.【우리카지노】바카라사이트 100% 검증 카지노사이트 - 승리카지노.【우리카지노】카지노사이트 추천 순위 사이트만 야심차게 모아 놓았습니다. 2021년 가장 인기있는 카지노사이트, 바카라 사이트, 룰렛, 슬롯, 블랙잭 등을 세심하게 검토하여 100% 검증된 안전한 온라인 카지노 사이트를 추천 해드리고 있습니다.온라인 카지노와 스포츠 베팅? 카지노 사이트를 통해 이 두 가지를 모두 최대한 활용하세요! 가장 최근의 승산이 있는 주요 스포츠는 라이브 실황 베팅과 놀라운 프로모션입니다.우리추천 메리트카지노,더킹카지노,파라오카지노,퍼스트카지노,코인카지노,샌즈카지노,예스카지노,다파벳(Dafabet),벳365(Bet365),비윈(Bwin),윌리엄힐(William Hill),원엑스벳(1XBET),베트웨이(Betway),패디 파워(Paddy Power)등 설명서.