June 3, 2016 / 2:01 AM / 3 years ago

China national pension fund reports 15.2 pct return rate in 2015

SHANGHAI, June 3 (Reuters) - China’s National Social Security Fund recorded a 15.19 percent rate of return last year, with income of 229.46 billion yuan ($34.86 billion), according to an annual report released on its website on Friday.

The rate of return exceeded the average of 8.82 percent since the fund was founded 15 years ago, it said. It did not give details on its investments.

Total assets under the social security fund amounted to 1.9 trillion yuan at the end of 2015, an increase of 24.62 percent from the year before, it said.

Appropriations from the government for the fund, including shares, were 70.6 billion yuan, 20 billion yuan of which came from the central government’s budget, it said.

China’s pension fund is under pressure to break even in coming years. Media have reported that China would formalize a plan in 2017 to raise the official retirement age. ($1 = 6.5815 Chinese yuan) (Reporting by Jing Wang and John Ruwitch; Editing by Kim Coghill)

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