China fund hires Principal for training

The national social security fund is gearing up for work.
Chinas National Social Security Pension Fund, established under the State Council, is turning to Principal Insurance to train its staff, says Russ Miller, chief advisor to Principal for Greater China in Beijing.

The main issue for the State Council has not been what pension model to follow, but how to implement it. The national pension fund is meant to capture assets solely for pensions and act as a payer of last resort after municipal and provincial coffers run dry. It is meant to be funded through a variety of means, including IPO proceeds. Many market players believe that over time it will become Asias biggest institutional investor. But getting the fund...

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