(NBD) Sept. 8 -- Public funds should play a due role in the construction of the third pillar of the pension scheme, said Li Chao, vice chairman of the China Securities Regulatory Commission.

A major force of pension investment management, public funds registered a rate of return of 9.26 percent and 7.57 percent on social security and enterprise annuity investments, respectively, in the past decade.

Data show that China's social security funds have had a total of 18 investment managers up to now, of which 16 are public funds.

The Pension Specialized Committee of the Asset Management Association of China was established in Beijing on Wednesday.

The newly built committee has four major responsibilities: first, promoting academic research on pensions and applications; second, offering advices to boost the construction of a sophisticated three-pillar pension system; third, carrying out investor education while improving the public's pension planning and investment management awareness; and fourth, urging the industry to sharpen pension investment management capabilities to diversify investment assets, fostering professional talents, and building a professional ecosystem for pension investment management.

With the establishment of the Pension Specialized Committee, public funds are expected to make greater contribution to the improvement of China's pension system, especially the construction and development of its third pillar.  

Email: lansuying@nbd.com.cn