LAW AND PRACTICE

International Private Pension Systems Conference
22 April 2016

Highlights

On 22 April 2016, in Beijing, the Asset Management Association of China, ICI Global, and the Centre for International Social Security Studies at the Chinese Academy of Social Sciences (CISS CASS) held the International Private Pension Systems Conference: Law and Practice.

The conference provided an opportunity for pension practitioners and experts from the United States, the United Kingdom, Canada, and Germany to introduce the framework of their respective pension systems and share the lessons learned during the pension reform processes. The conference examined the most appropriate arrangement for Chinese pension reform in order to further promote the development of the private pension system in China.

China’s Fund Association Chairman Examines Pension System Design

Hong Lei, chairman of the Asset Management Association of China (AMAC), discusses retirement system design and how different countries’ experiences with pension reform may help China as it reviews its system.

Hong Lei
Chairman 
Asset Management Association of China (AMAC)

Transcript: China’s Fund Association Chairman Examines Pension System Design (pdf), also available in Mandarin (pdf)

China’s Fund Association Vice Chairman Examines Pension System Design

Zhong Rongsa, vice chairman of the Asset Management Association of China (AMAC), discusses retirement system design and how different countries’ experiences with pension reform may help China as it reviews its system.

Zhong Rongsa
Vice Chairman
Asset Management Association of China (AMAC)

Transcript: China’s Fund Association Chairman Examines Pension System Design (pdf), also available in Mandarin (pdf)

The Importance of a Well-Designed Third Pillar in China 

Noted Chinese professor and global pensions expert Zheng Bingwen, director of the Centre for International Social Security Studies at the Chinese Academy of Social Sciences (CISS CASS), discusses the value of having a well-designed third pillar that incorporates tax incentives.

Zheng Bingwen
Director, Centre for International Social Security Studies 
Chinese Academy of Social Sciences (CISS CASS)

Transcript: The Importance of a Well-Designed Third Pillar in China (pdf), also available in Mandarin (pdf)

China’s Retirement Savings Structure Poised for Change

The need for pension reform is a key topic of debate in China. During the 2016 International Private Pension Systems Conference in Beijing, pension experts from around the world discussed their countries’ experiences and the issues China needs to consider as it reviews its pension system. ICI Global Managing Director Dan Waters offers details in this video.

Dan Waters
Managing Director
ICI Global

Transcript: China’s Retirement Savings Structured for Change

Success Story: Individual Retirement Accounts 

ICI Global Associate Chief Counsel Anna Driggs discusses US individual retirement accounts (IRAs) and the keys to their success.

Anna Driggs
Associate Chief Counsel 
ICI Global

Transcript: Success Story: Individual Retirement Accounts (pdf)

Regulatory Clarity Encourages Successful Retirement Savings

Strong regulations and policy play an important role in the United States in encouraging citizens to save money for retirement. Dennis Simmons, principal for global retirement savings policy at Vanguard International and chair of the ICI Global Retirement Savings Committee, discusses why other countries could benefit from this approach.

Dennis Simmons
Principal, Global Retirement Savings Policy 
Vanguard International 
Chair, ICI Global Retirement Savings Committee

Transcript: Regulatory Clarity Encourages Successful Retirement Savings (pdf)

Behavioural Economics: A Powerful Retirement Savings Tool

“Nudging” citizens to save for retirement through auto-enrolment is driving participation in the United Kingdom’s National Employment Savings Trust (NEST) to record highs. Will Sandbrooke, executive director of strategy and public policy for NEST, explains.

Will Sandbrooke
Executive Director, Strategy and Public Policy
National Employment Savings Trust (NEST)

Transcript: Behavioural Economics: A Powerful Retirement Savings Tool (pdf)

Adding Private Retirement Savings Plans Could Reap Benefits for China

Calvin Chiu, vice president of pensions, Greater China, for Manulife, examines how China’s citizens would benefit from a multi-layered retirement savings system that includes a voluntary, personal private-pension component and can change according to shifting circumstances.

Calvin Chiu
Vice President of Pensions, Greater China
Manulife

Transcript: Adding Private Retirement Savings Plans Could Reap Benefits for China (pdf)