PitchSend

Investor Presentaiton

Main issues identified Coverage is high for a voluntary system 52% of the 15-64 participate, but <20% for the 20-24 and <40% for the 25-29 Contribution levels are small Average contributions by participants ~2% of national average wage <25% of participants receive employer contributions Investment performance among the lowest in the OECD Conservative investment strategies due to the annual non-negative return guarantee for 74% of participants Retirement benefits are low • • Overall, only 4% of pensioners' income come from the supplementary pension schemes Mostly lump sums payments Pension management companies compete through their distribution network, not on fees 30 30

View entire presentation