翰威特--中国养老金改革ppt20英文版！-组织变革(编辑修改稿)

翰威特--中国养老金改革ppt20英文版！-组织变革(编辑修改稿)内容摘要：

dividual account based on 11% contributions  Pillar III = Voluntary Supplementary Benefits 9 Hewitt Associates H Financing  Employee  Employer = 4% salary contribution increasing by 1% every 2 years up to 8% = Approx 20% of salary contribution (Subject to salary maximum and local variation) 10 Hewitt Associates H Pension Assets  Pillar I and II pension assets approximately RMB 125bn, (US$15bn) in government bonds and deposits, managed by Social Security Bureaus。 however not enough for future obligations  Pillar III pension assets managed by insurance panies。 fully funded schemes  The government is considering several initiatives to meet the pensions shortfall • Special taxes • Lottery • Issue of recognition bonds • Sale of State Owned assets • Launch of Chinese Tracker Fund 11 Hewitt Associates H Develop Capital Markets  SOEs to be restructured: 1,000 – 2,000  Merge, close, downsize or corporatize  List on stock Market through A shares?  How much capital is required in the next 5 years? 10 years?  How to apply pension assets to capital markets and maximize returns (deposits + bonds + equities + mutual funds + real estate + infrastructure)  World Bank estimates pension assets of US$ trillion by 2030 12 Hewitt Associates H Implementation Issues  Compliance  Administration  Preservation  Portability  Afforda。