Eric gets a disability
pension from the government.
埃里克得到了政府的伤残抚恤金。
Tom retired on a company
pension.
汤姆退休时得到公司的退休金。
He started saving for his
pension as soon as he began working.
他一工作就开始为退休金储蓄。
The company offers a generous
pension scheme to its employees.
公司为员工提供慷慨的退休金计划。
She receives a state
pension in addition to her private
pension.
她除了私人退休金外，还领取国家退休金。
The government plans to raise the
pension age to 67.
政府计划将退休年龄提高到67岁。
He has a defined benefit
pension plan, which guarantees a certain income in retirement.
他有一个确定收益的退休金计划，保证退休后有固定的收入。
Her
pension is indexed to inflation, so it will keep up with the cost of living.
她的退休金与通胀挂钩，因此能跟上生活成本。
John has been contributing to his
pension fund for over 30 years.
约翰已经向他的养老金基金缴纳了30多年。
After retiring, she lived off her
pension and some savings.
退休后，她靠退休金和一些积蓄生活。
The company's
pension policy allows for early retirement under certain circumstances.
在某些情况下，公司的退休政策允许提前退休。
They are lobbying for better
pension rights for part-time workers.
他们正在游说改善兼职员工的退休权益。
He receives his pension from working here.
他因在这里工作而领取退休金。
The New York-based financial services conglomerate sees long-term opportunities in China's asset management industry, which is built on the country's high levels of wealth creation, growing demand for financial advice and the launch of the private pension scheme in late 2022, said Gokul Laroia, CEO of Morgan Stanley Asia.
摩根士丹利亚洲首席执行官Gokul Laroia表示，这家总部位于纽约的金融服务集团看到了中国资产管理行业的长期机遇，该行业建立在中国高水平的财富创造、不断增长的金融咨询需求以及2022年底推出的私人养老金计划的基础上。
Pension and wealth management will be part of Fidelity's development focuses in China, said Helen Huang, the company's general manager for China unit.
富达中国区总经理Helen Huang表示，养老金和财富管理将是富达在中国发展重点的一部分。
China's emerging private pension industry and high-standard opening-up agenda have brought strategic growth opportunities for Bank of Communications Schroder Fund Management Co Ltd, head of the joint-venture fund manager said.
该合资基金管理公司负责人表示，中国新兴的私人养老金行业和高标准的开放议程为交通银行施罗德基金管理有限公司带来了战略增长机会。
According to market tracker Wind Info, the asset value of pension target FOFs issued by BOCOM Schroders has reached 16.7 billion yuan ($2.3 billion) as of the end of September, ranking the first among fund managers in the country.
根据市场跟踪机构Wind Info的数据，截至9月底，交银施罗德发行的养老金目标FOF的资产价值已达167亿元人民币（23亿美元），在全国基金经理中排名第一。
China launched the private pension scheme this year, which allowed individuals to buy eligible mutual funds, savings deposits and insurance products through their pension accounts and enjoy tax and fee incentives.
中国今年推出了私人养老金计划，允许个人通过养老金账户购买符合条件的共同基金、储蓄存款和保险产品，并享受税收和费用优惠。
In November, the China Securities Regulatory Commission released the list of qualified mutual funds that investors can invest in via their pension accounts, coupled with relevant regulations.
11月，中国证监会发布了投资者可以通过养老金账户投资的合格共同基金名单，以及相关规定。
The list, to be updated quarterly, contains 129 fund products and includes both of the two pension target funds that BOCOM Schroders issued.
该榜单将按季度更新，包含129只基金产品，包括交银施罗德发行的两只养老目标基金。
Having continuously increased investment in pension fund management in recent years, BOCOM Schroders will further enrich its system of pension target fund products and properly perform relevant investment management responsibilities, Ruan said.
阮表示，近年来交行施罗德不断加大对养老基金管理的投入，将进一步丰富其养老目标基金产品体系，妥善履行相关投资管理职责。
This in turn contributes to public and private sector pension funds.
这反过来又对公共和私营部门的养老基金做出贡献。
"Ermotti also pointed out that growing pension and life insurance assets can create a virtuous and positive circle, in which institutional assets add fund supplies to local stock and bond markets, promote market depth, help modernize market infrastructure and support best-practice financial regulations.
Ermotti还指出，不断增长的养老金和寿险资产可以形成一个良性循环：机构资金增加对本地股票和债券市场的供应，推动市场深度，帮助现代化市场基础设施，并支持最佳金融监管实践。
Move aims to have more market entities join in building third pillar of the systemChina plans to set up a new pension insurance company to further promote the development of its third-pillar pension market and encourage more market entities－including banks－to participate experts said.
中国计划设立新的养老保险公司,以期进一步推动第三支柱养老市场发展,并鼓励包括银行在内的更多市场主体参与其中,专家表示,此举旨在让更多的市场实体参与到构建养老金体系的第三支柱中来。
The third pillar of China's three-pillar pension system consists of personal savings-funded endowment insurance as well as commercial endowment insurance.
中国的三支柱养老保障体系中的第三支柱指的是个人储蓄型养老保险和商业养老保险。
It is still underdeveloped and only takes 6 percent of the country's total pension insurance funds－even if the percentage is calculated based on the broadest definition of the third pillar, Guo Jinlong, a research fellow with the Institute of Finance and Banking at the Chinese Academy of Social Sciences, said in an article published by the Beijing-based newspaper Financial News earlier this year.
中国社会科学院财经战略研究院研究员郭金龙在年初于北京《金融时报》上发表的一篇文章中表示,这一市场仍不发达,即便按照第三支柱最宽泛的定义来计算,其所占的全国养老金保险基金总额也只有6%。
With a registered capital of 11.15 billion yuan ($1.72 billion), the to-be-formed pension insurance company in Beijing has 17 initiators among which 10 banks' wealth management subsidiaries take a total stake of 66.81 percent, according to the Insurance Association of China.
根据中国保险行业协会的信息，这家在北京即将成立的养老保险公司的注册资本为111.5亿元人民币（约合17.2亿美元），共有17家发起人，其中10家银行的理财子公司总共持有66.81%的股份。
The pension insurance company is still awaiting regulatory approval.
养老保险公司在等待监管机构的批准。
Once the company is set up, the wealth management subsidiaries of commercial banks holding its shares will be allowed to design wealth management products that also function to protect clients against certain risks, including the loss of income due to retirement, rather than simply selling pension insurance products offered by the insurers that signed sales commission contracts with the banks' head offices or branches, Wang said.
王说,一旦该公司成立,商业银行的理财子公司将被允许设计既能保护客户免受某些风险(包括因退休而失去收入)、又具有理财功能的产品,而不只是销售与银行总行或分行签订销售佣金合同的保险公司所提供的养老保险产品。
"China began a pilot program of individual income tax-deferred commercial endowment insurance, which is part of the third pillar of pension insurance, in Shanghai, Fujian province, and Suzhou Industrial Park in Jiangsu province in May 2018.
2018年5月，中国开始在上海、福建省和江苏省的苏州工业园区试点实施个人税收递延型商业养老保险，这是第三支柱养老保险的一部分。
"The announcement of a plan to establish a new pension insurance company, whose shareholders are mainly wealth management subsidiaries of banks, shows that the government looks forward to expanding the scope of participants in the third-pillar pension market," said Wei Chenyang, director of the China Insurance and Pension Research Center at Tsinghua National Institute of Financial Research.
清华大学五道口金融学院中国保险与养老金研究中心主任魏晨阳表示，“以银行理财子公司作为主要股东的新设个人养老金保险公司，显示出政府希望扩大第三支柱养老保险市场的参与主体。”
He noted that a tremendous number of bank clients have short-term deposits, and that authorities are looking to guide short-term personal savings into the third-pillar pension market in the country.
他注意到银行客户中有大量短期存款,当局正寻求将这些短期个人储蓄引导至该国的第三支柱养老金市场。这句话的意思是:他观察到,在银行客户中,存在大量的短期存款。基于这一情况,当局正在考虑采取措施,旨在将这些短期的个人储蓄资金引导向该国的第三支柱养老金市场,以促进养老金体系的发展和壮大。这样的举措不仅可以为个人提供更长期、更稳定的财务规划工具,同时也有助于资本市场的深化和多元化。
"The market expects that supporting policies including tax incentives will be launched later this year to encourage the transition of demand deposits－bank deposits that can be withdrawn without advance notice－into third-pillar pension assets," he said.
他说:"市场预期,包括税收优惠在内的一系列配套政策有望于今年晚些时候出台,鼓励把活期存款,也就是可以无提前通知随时提取的银行存款,转化为第三支柱养老资产.
Yang Zeyun, a finance lecturer at Beijing Union University, said the plan to establish a new pension insurance company comes out when China is facing a major challenge of growing old before it gets rich.
北京联合大学财经专家杨泽云表示,在“未富先老”的巨大挑战面前,组建专业化的养老保险公司的思路是非常及时的。其中,"未富先老"是"getting old before getting rich"的中文表达，形象地描述了中国当前面临的人口老龄化问题。在经济尚未达到足够富裕的阶段，人口已经进入老龄化，这给社会福利体系，尤其是养老金制度带来了巨大的压力。因此，杨泽云提到的“组建专业化的养老保险公司的思路”被视为应对这一挑战的一种策略，旨在通过市场化运作提高养老金的管理效率和投资收益，以缓解因人口老龄化带来的财政压力。
Given the circumstances, China should build its third-pillar pension market into a market shared by various types of financial institutions, including insurers, banks, trust companies and fund management companies, Yang said.
杨燕绥说,从三支柱养老金市场的国际经验看,我国应建立一个由各类金融机构,包括保险公司、银行、信托公司和基金管理公司等共同参与的第三支柱市场。
This also points to more opportunities for insurance companies as pressure on pension funds will mount, resulting in increasing need for commercial life insurance, Zhang said.
这也将给保险公司带来更多的机会，因为养老金基金的压力将会增大，从而增加对商业寿险的需求，张说。
In addition to the support of existing limited partners of the US dollar Fund I, the new fund was raised from institutional investors, including top endowment funds, pension funds, fund of funds, insurance funds, family offices and other institutional investors from North America, Europe, and Pan-Asian regions.
The number of changes that the Chinese government is enacting in areas such as health insurance, pension and annuities is on Allianz's radar, he said.
He quickly signed long-term labor deals, worked on a pension deficit and boosted slowing sales in the company's defense division.
In addition to participating in the first and second China International Import Expos, we also proposed a business concept of "Care Unbounded, Amused in Mind and Body", showing Panasonic's focus on social issues in China, and will achieve brand upgrading in the field of electrical appliances in the future, and provide a healthy pension solution for China's aging society.
As a major insurance group in China, Taikang's exiting business covers insurance, hospital, pension and elderly care communities, which put the company in a competitive position to serve its customers.
The equities of Anbang Life Insurance, Anbang Pension Insurance and Anbang Asset Management Co will be transferred to Dajia Insurance Group.
The group that takes over Anbang will push ahead with Daijia's participation in the restructuring of Anbang to provide health insurance, pension insurance and asset management services to the public.
Taking new steps to further open up China's financial sectors, the China Banking and Insurance Regulatory Commission approved the establishment of the first foreign-funded pension insurance company in the country on Wednesday.
For example, clients can pay 10 yuan ($1.44) to buy its pension annuity insurance product, or 19.9 yuan to buy one-year of public transportation safety insurance.
China Jianyin Investment Ltd, or JIC, an investment group focused on equity, will develop pension finance and pension service systems, aiming to improve the environment of the pension investment industry according to the company's top management.
"With people's growing reliance on the third pillar of the pension system, individual pension investment will become a crucial process for personal wealth management," said Zhou Xiangyong, managing director of Guotai Asset Management, a key member of JIC.
"As a result, the company will make strategic and long-term plans on the pension investment business.
"As a key component of the individual pension system, public funds will play a more important role in the pension investment market, Zhou said.
"By the end of the second quarter of 2018, the company was managing 99 public funds, 3 pension products and 90 asset portfolios, offering a full range of asset management products to cover clients with different demands, the company's statement said.
especially smart cities, covering government, security, environmental protection, education and pension," Chan said.
Whitbread said it will reduce debt and contribute to the pension fund with the proceeds from the deal and further expand its hotel chain Premier Inn in the UK and Germany.
Tech firm's wealth management channel soon to offer target-date retirement fundsAnt Financial Services Group has invited some younger residents to address their pension options through its wealth management service, just one week after the country's target-date retirement funds received the green light from securities regulators.
The financial technology giant announced on Tuesday that the first batch of target pension funds offered by 14 asset managers will become available through Ant Fortune, Ant Financial's wealth management channel, as people look for diversified savings options beyond the unified national pension system.
China offers consumers three ways to save for retirement - the national pension system, voluntary occupational pensions, in the form of annuities and covering only a minority of the population, and private savings, said Fang Lianquan, a researcher at the Center for International Social Security Studies of the Chinese Academy of Social Sciences.
According to Fang, target pension funds usually allocate a pool of investments to varying degrees of risk based on when an investor is expected to retire and cash out, such as 2030 or 2050.
The target clients for the onshore investment product will include public and corporate pension funds, university endowments and charitable foundations.
Leading global investment management organization Canada Pension Plan Investment Board and Longfor Group Holdings Ltd announced on Thursday the launch of a new investment platform that will focus on rental housing programs in China, with an initial investment totaling $817 million.
The government also wants the final salary pension scheme for employees on the West Coast main line to revert to the winner of the bid.
Gemdale Group, one of the country's largest real estate operators and developers, will enter education, sports, healthcare and pension sectors while maintaining its core business of residential property, said the company's top management on Saturday.
"She said the company hopes to participate in China's pension reform, based on its rich experience in offering retirement products in other markets including the United States and the UK, depending on the progress of relaxation of regulatory restrictions on foreign investments in this sector.
So far, CPIC Group has a wide of range of licenses including life insurance, property and casualty insurance, pension, health insurance, agriculture insurance and asset management.
Among all types of business, the company will focus on protection-oriented products and is optimistic about the prospects of its health insurance and pension business.
"We believe that China's insurance sector can maintain double-digit growth in the coming decade, with health insurance and pension in huge demand.
We are optimistic about energy-saving emission reduction, pollution control, health and the pension industry.
We are also hoping to join China's pension reform.
On-demand services firm plans more AI, unmanned delivery investmentsThe round was led by Tencent Holdings Ltd, and includes new investor the Priceline Group and other key investors including Sequoia Capital, GIC of Singapore, Canada Pension Plan Investment Board, Trustbridge Partners, Tiger Global Management, Coatue Management and China-UAE Investment Cooperation Fund, the company said in a statement.
Meanwhile, the People's Insurance Company (Group) of China, China's major insurer, announced On Oct 11 that its proposed subsidiary PICC Pension Company Limited (PICC Pension) has been granted approval to commence operation from the China Insurance Regulatory Commission.
此外，中国主要保险公司——中国人民保险集团股份有限公司于10月11日宣布，其拟设立的子公司中国人民养老保险有限责任公司已获得中国银行保险监督管理委员会批准开始运营。
The registered capital of PICC Pension will be 4 billion yuan, with its place of registration in Xiongan New Area and its place of operation in Beijing city, an announcement on PICC's website said.
PICC在其网站上发布的公告表示，PICC养老金的注册资本将为40亿元人民币，注册地设在雄安新区，运营地点在北京。
The winners are AIA China, Baxter (China) Investment, Becton Dickinson Medical Devices, CIFI Group, HNA Holding Group, Infinitus, McDonald's China, MSD China, Novartis Group China, Shanghai Disney Resort, Starbucks China, Taikang Pension & Insurance, The Ritz-Carlton Hotels China, and Wanhua Chemical Group.
Principal Financial Group, the Iowa-based pension, insurance and asset management service provider, hopes to become a shareholder in China's pension business after gaining 12 years of experience in asset management in the country, said its senior executives.
Renee Schaaf, the group's senior vice-president, said that China's pension potential is enormous.
"China has one of the fastest aging populations in the world, and this will put pressure on the government-run pension system," she said.
Both CCB and Principal signed a strategic cooperation agreement to expand the relationship to other areas of asset management, pension development and the joint development of overseas market opportunities in 2016.
In December 2015, SPIC purchased Pacific Hydro for $2.5 billion from Australia's largest pension fund investor IFM Investors.
Logistics properties have become increasingly attractive to sovereign wealth and pension funds after the growth of internet shopping boosted demand from occupiers.
Charles Lin, managing director of Vanguard's China unit, said the firm believes that China's retail investment market will be a significant growth driver, given the fast-growing demand for retirement plans and pension funds.
Fidea has also calibrated its products and focused specifically on pension offers.
First, China should promote further opening-up in more financial subsectors, including technology finance, green finance, inclusive finance, pension finance and digital finance.
Promoting pension finance can be an effective way for China to cope with its rapidly aging population.
With help from foreign investors, the country can better make plans for, and invest in, pension finance, as well as improve the pension insurance system.
China is stepping up its efforts to optimize the pension services and product supplies to the elderly, a move to deal with the aging challenges and let the elderly enjoy the results of social and economic development.
"In the financial sector, Peter Ling-Vannerus, chief representative of SEB Beijing, said opportunities are abundant for European banks in the Chinese market regarding asset and pension management as well as transition finance.
Here, efforts to strengthen the pension system, offer more educational opportunities, and improvements in healthcare services should all help to raise demand growth over time by reducing incentives for excess saving among households.
The country launched enterprise annuities in 2004 as a type of supplementary pension plan under which both employers and employees must contribute.
Currently, China has achieved near-universal coverage of the pension fund program and basic health insurance for one-fifth of the global population, which Guan said is a great achievement for a developing country.
On the other hand, with the fast development of e-commerce and platform companies, many flexible workers in urban areas do not participate in the pension fund program.
At the same time, as awareness for the need to save for retirement grows in China, providing new investment options for pension pools are proving a growth area for mutual funds.
Policymakers unveiled a new private pension scheme last year to offer supplementary retirement funding options for the aging population, alongside traditional pension programs from the government or offered by companies.
We believe the new private or individual pension savings plans will prompt continuous innovation in asset management products.
Foreign asset managers seeking to align with these efforts can leverage their experience and best practices from overseas, including in pension product offerings, sustainable investment practices and outbound investment strategies.
In November, the country officially rolled out a private pension program, opening up a lucrative new market for global banks and financial institutions.
"We are very optimistic about the scale of the capital inflow into the private pension market," said Helen Huang, managing director of Fidelity International China.
Income transfer can be carried out in the following ways: transfer payments are targeted to low-income groups, such as increasing income subsidies for low-income groups to ensure they do not revert back into poverty, improve the efficacy of social security, such as using fiscal funds to increase pension support, promoting the reform of education and medical systems to reduce financial burdens and issue more consumption vouchers.
China needs to speed up innovation of financial products provided under its private pension program to meet multilayered and diversified retirement planning needs of its rapidly aging population, industry experts said.
The country recently announced the launch of its private pension program in 36 pioneering cities and areas, including Beijing, Tianjin and Shanghai.
Many of the 23 commercial lenders and 11 wealth management companies that received a regulatory nod to participate in the program, including China Construction Bank and China CITIC Bank, officially started offering private pension services on Friday.
Some insurance companies such as PICC Life Insurance Co and Guomin Pension & Insurance Co sold their first private pension products on the same day.
Qualified financial institutions must further develop special products through innovation to meet the needs of retirement planning," said Dong Ximiao, chief researcher at Merchants Union Consumer Finance Co. Workers who participate in basic pension insurance for urban employees or the basic pension insurance for urban and rural residents, can take part in China's private pension program.
Individuals can make voluntary contributions by setting up a personal pension account and can enjoy tax benefits.
After setting up an account, participants can use their pension contributions to purchase financial products that meet regulatory requirements from eligible financial institutions.
The products include commercial banks' wealth management products, deposits, commercial pension insurance and public funds.
To encourage more people to participate in the program, the government could consider appropriately adjusting the limit on yearly contributions to personal pension accounts and offer stronger tax incentives, Dong said.
Improving investment returns is the key to the development of the private pension market whose long-term growth depends on the design of such financial products, said Zheng Bingwen, director of the Center for International Social Security Studies at the Chinese Academy of Social Sciences.
The return on investment on a risk-adjusted basis is a critical factor in the sustainability of the overall pension system.
People's motivation to participate in the private pension program will be significantly reduced without an appropriate level of expected returns, said Andreas Wimmer, member of the board of management of Allianz SE, at the Annual Conference of Financial Street Forum 2022 last week.
Huang Tao, general manager of Guomin Pension & Insurance Co, urged regulators to make breakthroughs in regulations on the use of pensions so that financial institutions can make better liquidity arrangements, thus improving returns on investment, reducing the cost of investments and increasing investment efficiency.
The size of China's private pension market may reach 3.5 trillion yuan in 10 years, said Fan Hua, head of BlackRock CCB Wealth Management.
"We expect to see relatively steady development of China's private pension market, which will hopefully seize a window of opportunities for long-term rapid growth," Fan said at the forum.
China officially announced the implementation of a new private pension scheme on Friday, a supplement to the nation's social security system.
Workers at Chinese companies covered by the State-level pension system can now open private pension accounts voluntarily.
So far, 23 banks and 11 financial institutes, including the Bank of China and the Industrial and Commercial Bank of China, as well as several insurance companies and funds operators have been given permission by the central government to help individuals open and manage their private pension accounts.
As China has unveiled the framework of a personal pension scheme to complement its current pension system, the China Banking and Insurance Regulatory Commission started soliciting opinions on Friday on interim measures for the administration of the personal pension business of commercial banks and wealth management companies.