The U.K. Foreign and Commonwealth Office selected retirement consultant D3P Global to research technologies for automatic enrollment in China.
D3P Global will carry out research and analysis of automatic enrollment the U.K. and other countries globally and produce a report outlining which technologies might be applied in China, according to a notice posted on the U.K. government's official procurement website.
The U.K. Foreign and Commonwealth Office and the People's Bank of China are collaborating on a proposal for an auto-enrollment system and a plan design for occupational defined contribution plans in China.
D3P Global's research will be used to consider how best practices globally could be implemented or expanded on to improve outcomes for under-served groups in China, including women and rural populations. About 7% of workers are currently covered by workplace plans in China.
The program, known as the U.K.-China Financial Services Prosperity Fund, will run until 2022.
Further details could not immediately be learned.
