Is it useful for foreigners to pay five insurances in Shanghai?

Legal analysis: it is better for foreigners to pay social security in Shanghai, and it is very good to pay social security for a long time. After paying 15 years according to the current policy, you can receive a monthly pension and enjoy medical insurance at the legal retirement age.

Legal basis: People's Republic of China (PRC) Social Insurance Law.

Article 18 The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.

Nineteenth individuals across the overall regional employment, the basic old-age insurance relationship with my transfer, the cumulative payment period. When an individual reaches the statutory retirement age, the basic pension is calculated in stages and distributed uniformly. Specific measures shall be formulated by the State Council.