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Regulations on Retirement Administration in Shanghai

Regulations on Retirement Administration in Shanghai

Retirement policy is of vital interest to almost everyone. In China, retirement policy may vary in some respects in different cities. There is a summary of retirement regulations in Shanghai as following (there is no distinction between household registrations in the following regulations except for the standard of minimum payment years for claiming pension):

Regulations on Retirement

  1. Retirement age

    Gender


    Identity


    Statutory Retirement Age


    Male


    Cadre/worker


    60


    Female


    Cadre


    55


    Worker


    50


    Flexible Employment


    55



  2. Identity

    The identity standard of a retiree is based on the information in the last labor contract signed with the employer. The retiree shall be identified as cadre if the contract shows “management position?

  3. The minimum payment years for claiming pension

    Household Registrations


    Years of Payment


    Shanghai


    Residence



    a.   The pension insurance has been paid in Shanghai for more than 15 years and the last contribution was made in Shanghai, the retirees can get pension when reach retirement age


    b.   The total payment years of pension insurance in Shanghai and other cities are more than 15 years, the pension in other cities have been transferred to Shanghai which is the location of the last contribution made, the retirees can get pension when reach retirement age


    Non-Shanghai


    Residence


    The pension insurance has been paid in Shanghai for more than 10 years, the total payment years of pension insurance in Shanghai and other cities are more than 15 years, the last contribution was made in Shanghai, the retirees can get pension when reach retirement age



  4. Procedures for retirement

    In the month in which an active employee reaches the statutory retirement age, it is handled by the company through the One Web Business Platform. There is no charge for retirement application, retirees shall get the pension in the next month after finishing the retirement procedure.

KAIZEN Group is equipped with experienced and highly qualified professional consultants and is therefore well positioned to provide professional advices and services in respect of the formation and registration of company, application for various business licences and permits, company compliance, tax planning, audit and accounting in China. Please call and talk to our professional consultants for details.


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