News Regional02 May 2019

China:Foreign insurers set sights to fill local pension gap

| 02 May 2019

With China's elderly population ageing rapidly, the pension deficit gap is expected to expand further even though the country's pension penetration rate remains very low. According to the China Pension Actuarial Report 2019-2050 from the Chinese Academy of Social Sciences (CASS) think tank, China's pension deficit gap is estimated to be CNY600bn ($89.1bn) by 2018 and is expected to rise to CNY890bn by 2020. However, this bring opportunities for insurers to fill the gap - as reported by China Times.

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