China to launch first private pension scheme to tackle challenges from ageing population

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China will launch its first private pension scheme which enables citizens to invest and supplement funds in their pension in a efforts to tackle economic challenges linked to an ageing population.

Employees can contribute up to 12,000 yuan ($1,860) per year to their pension fund under the new scheme, the government said in a document on Thursday, adding that the cap would be adjusted in line with “economic development” and would benefit from . . .