Recently, the Ministry of Civil Affairs publicly solicited comments from the public on the newly revised national standard “Classification of Pension Institutions”. The newly revised “Classification of Pension Institutions” clearly states that the rating of pension institutions follows the principles of “voluntary application, scientific and reasonable, quality-oriented, pragmatic, objective and impartial, and standardized procedures”. Pension institutions are classified on the basis of a comprehensive examination of the environment, facilities, equipment, operation management, and services of pension institutions. The grades of pension institutions are divided into five levels. The order from lowest to highest is level 1, level 2, level 3, level 4, and level 5. Higher levels indicate that pension institutions have stronger comprehensive capabilities in terms of environment, facilities and equipment, operation management, and services.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.