Retirement plans: Multinationals using supplemental pensions to compete for top talent.(Opportunities in China)

Pensions & Investments, November, 2004 by Feinberg, Phyllis

Byline: Phyllis Feinberg Many multinational companies doing business in China are offering supplemental pensions and savings plans to senior-level executives, while only providing government-mandated social security-type pensions to the rank and file. No executives of multinational companies would provide any specifics.

Stuart Leckie, a Hong Kong-based independent consultant, said many multinationals are reluctant to talk about the pension plans they are providing for their Chinese employees because of this tiered system. "I think with multinationals, they recognize that state-mandated benefits won't amount to much for senior people, so they give them bigger benefits,'' said Mr. Leckie. "At the executive level, there is a huge competition for good...

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