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Social Insurance and Housing Fund Information of the First-tier Cities in China

1. Employers must pay social insurance and housing fund for employees in accordance with the prescribed base and proportion. The following is the payment proportion.


No.

City

Pension

Medical

Maternity

Unemployment

Industrial injury

Housing fund

Disability insurance

Total

proportion

1

Beijing

16

9.8


0.5

0.2

12

1.5

40

2

Shanghai

16

9

1

0.5

0.256

7

1.5

35.256

3

Guangzhou

14

6.85


0.8

0.2

8

1.5

31.35

4

Shenzhen

15

6

0.5

0.7

0.14

12.

0.5

34.84


2. Social insurance and housing fund will set up personal accounts to record personal payment; Individuals can log in to the national network or APP at any time to check their accounts and understand their rights and interests.


3. Social insurance and housing fund can be localized based on the city where employees work, and transferred and continued in different cities, so that employees can enjoy their own rights and interests when moving between different cities.


4. The benefits of social insurance and housing fund generally include pension, medical expense reimbursement, unemployment allowance, pre-tax deduction, etc.


5. Foreign workers who work in China are also required to pay social insurance, but the housing fund is not compulsory.


6. Foreign workers who meet the conditions then could enjoy social insurance benefits according to the law. Taking pension insurance as an example, foreign employees who have accumulated contributions for more than 15 years and reached the legal retirement age of China (male 60 years old, female 55 years old at this stage) can retire in China and receive basic pensions on a monthly basis; They may also receive pensions overseas on a monthly basis, but they shall provide certificate of existence.


7. If a foreign worker leaves China before reaching the prescribed pension age, his/her social insurance personal account could be retained, and if he/she comes to China for employment again, the period of contribution shall be calculated in aggregate; and upon his/her written application, he/she may withdraw the amount saved in his/her personal social insurance account.


8. It should be noted that the social insurance housing fund policies of different cities may be different, and the specific provisions need to be determined according to the relevant local documents and policies.