Reform of pension system 'faces challenges'

Authorities are moving into deep water in pension system reform, reported Beijing-based China Securities Journal.

The Ministry of Human Resources and Social Security is deliberating proposals submitted by research institutes in August, including the Chinese Academy of Social Sciences and Development Research Center of the State Council.

The institutes all urge a speeding up of pension reform despite differences in their advice.

The ministry is discussing problems facing reform, particularly the appreciation of pensions, Li Weimin, chief of the supervision department of the ministry, told China Securities Journal.

The State Information Center suggested exploring more channels to raise pension funds, such as stocks, securities, private funds and the sovereign wealth fund, to address problems arising from China's aging population in a report released in August.