China tries reverse mortgage scheme for pensioners

Global Business

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China’s rapidly ageing population has posed enormous challenges to its pension system. In March this year, regulatory authorities approved a new house-for-pension scheme by an insurance company that’s similar to a reverse mortgage loan. So far 22 people in four pilot cities have signed up for the program. CCTV’s Meng Qingsheng reports on what headway the program has made so far.

China tries reverse mortgage scheme for pensioners

China tries reverse mortgage scheme for pensioners

China's rapidly ageing population has posed enormous challenges to its pension system. In March this year, regulatory authorities approved a new house-for-pension scheme by an insurance company that's similar to a reverse mortgage loan. So far 22 people in four pilot cities have signed up for the program. CCTV's Meng Qingsheng reports on what headway the program has made so far.

More details:

  • Happy Life Insurance is the first company approved by the Chinese government to operate this scheme. It’s testing the waters and accepting applications in the four test cities (Beijing, Shanghai, Wuhan and Guangzhou) approved for the pilot.

Lei Mao on China’s pension system
For more on the subject and the broader issue of China’s pension system, CCTV’s Phillip Yin spoke to Lei Mao, Assistant Professor of Finance at Warwick Business School in the UK.

Lei Mao on China's pension system

Lei Mao on China's pension system

For more on the subject and the broader issue of China's pension system, CCTV's Phillip Yin spoke to Lei Mao, Assistant Professor of Finance at Warwick Business School in the UK.