Regulations on Social Pension Insurance of Shenzhen Special Economic Zone (Revised in 2021)

Chapter I General Provisions Article 1 In order to improve the social pension insurance system, protect the lawful rights and interests of employees and residents in participating in social pension insurance and enjoying social pension insurance benefits, these Regulations are formulated in accordance with the Basic Principles of the Law of the People's Republic of China on Social Insurance as well as relevant laws and administrative regulations, and in the light of the actual situation in the Shenzhen Special Economic Zone. Article 2 The social pension insurance referred to in these Regulations includes employees' social pension insurance and residents' pension insurance. Employee social pension insurance includes basic pension insurance, local supplementary pension insurance and enterprise annuity and other multi-level pension insurance.

Methods for residents' old-age insurance and for the old-age insurance of workers in institutions shall be separately formulated by the Municipal People's Government.

Enterprise pensions shall be implemented in accordance with relevant state regulations. Article 3 The social pension insurance adhere to the policy of broad coverage, basic protection, multi-level, sustainable, and follow the combination of fairness and efficiency, the rights and obligations correspond to the level of protection and economic and social development level compatible with the principle. Article 4 employees shall participate in basic pension insurance, by the employees and their formation of labor relations within the Shenzhen Special Economic Zone enterprises, state organs, institutions, social organizations, private non-enterprise units, individual economic organizations and other social organizations (hereinafter collectively referred to as the employer) in accordance with the prescribed standard **** with the payment of basic pension insurance premiums.

Individual industrial and commercial households without employees, part-time workers who have not participated in the basic pension insurance in the employing unit, and other flexibly employed persons with household registration in the city (hereinafter collectively referred to as individual contributors) may participate in the basic pension insurance in accordance with the provisions of these Regulations, and the individual shall pay the basic pension insurance premiums.

People participating in basic pension insurance (hereinafter referred to as insured persons) who have the household registration of the city shall at the same time participate in local supplementary pension insurance.

People who have reached the legal retirement age do not pay pension insurance premiums. However, unless otherwise provided by laws, administrative regulations and these Regulations. Article 5 The basic old-age insurance is a combination of social coordination and individual accounts. Article 6 The municipal human resources and social security department (hereinafter referred to as the municipal human resources and social security department) is responsible for the management of the city's social pension insurance.

The relevant departments of the city shall be responsible for the work relating to social pension insurance within their respective areas of responsibility.

The municipal social insurance agency (hereinafter referred to as the municipal social insurance agency) and the municipal social insurance premium collection agency are responsible for basic pension insurance, local supplemental pension insurance and other social insurance matters in accordance with their respective duties.

Street offices undertake socialized management services for retirees within their jurisdiction. Article 7 The transfer of the basic pension insurance relationship of the insured who are employed across provinces, autonomous regions and municipalities directly under the Central Government shall be carried out in accordance with the relevant provisions of the State.

The participants of mobile employment in Guangdong Province, the basic pension insurance relationship transfer in accordance with the relevant provisions of Guangdong Province. Chapter II Collection of Pension Insurance Premiums Article 8 The sources of the basic pension insurance fund shall be:

(1) the basic pension insurance premiums and the interest thereon;

(2) the late payment of the basic pension insurance premiums;

(3) the proceeds from the lawful operation of the basic pension insurance fund;

(4) other incomes. Article 9 The sources of the Local Supplementary Pension Insurance Fund shall be:

(1) local supplementary pension insurance premiums and the interest thereon;

(2) late payment of local supplementary pension insurance premiums;

(3) proceeds from the lawful operation of the Local Supplementary Pension Insurance Fund;

(4) other incomes. Article 10 The contribution base for the monthly payment of basic pension insurance premiums by an employee shall be his/her gross salary in the previous month; the first month's contribution base for an employee who is newly joining the workforce, re-employed, or newly established as an employer shall be his/her first month's gross salary. If the gross salary exceeds 300% of the average monthly salary of all urban employees in Guangdong Province in the previous year, calculated by weighting the average salary of urban employees in non-private units and the average salary of urban employees in private units in the previous year, the exceeding portion shall not be counted as the contribution base; the contribution base shall not be lower than the minimum wage standard announced by the municipal people's government.

The monthly contribution base for the basic pension insurance premiums paid by the employer shall be the sum of the contribution base for the employees of the unit.

Individual contributors shall determine their own contribution base within the range of 300% of the average monthly salary of the employed persons in urban units of the whole Guangdong Province in the previous year within the range of the minimum wage standard announced by the Municipal People's Government.

The local supplementary pension insurance contribution base for employees and individual contributors is the same as the basic pension insurance contribution base for themselves. Article 11 The employer shall pay monthly basic pension insurance premiums in accordance with 14 percent of the contribution base of the employer, which shall be credited to the basic pension insurance fund; the employee shall pay monthly basic pension insurance premiums in accordance with 8 percent of the contribution base of the employee, which shall be credited to the individual account.

The employer pays monthly local supplementary pension insurance premiums in accordance with one percent of the employee's contribution base, which is credited to the local supplementary pension insurance fund.

Individual contributors pay basic pension insurance premiums in accordance with twenty-two percent of the contribution base determined by themselves, of which eight percent is credited to individual accounts and fourteen percent is credited to the Basic Pension Insurance Co-ordination Fund; and they pay local supplemental pension insurance premiums in accordance with one percent of the contribution base, which is credited to the Local Supplemental Pension Insurance Fund. Article 12 The Municipal People's Government may, in accordance with the relevant regulations of the State and Guangdong Province on pension insurance, adjust the lower limit of the basic pension insurance contribution base and the proportion of contributions to the transition to the standards set by the State and Guangdong Province.

The municipal people's government shall make public the adjustment of the lower limit of the basic pension insurance contribution base and the proportion of contribution, and report it to the Standing Committee of the Municipal People's Congress for the record.