How come some people say that foreigners pay social security in Shenzhen, and when they receive pensions, they can only receive pensions based on their household registration. Is this not cost-effecti

How come some people say that foreigners pay social security in Shenzhen, and when they receive pensions, they can only receive pensions based on their household registration. Is this not cost-effective? Yes, but after you resign in Shenzhen, remember to ask your company to transfer the insurance to your account for you, and then you can get the insurance at the place where your account is located. If you don't transfer money, it means you haven't paid it. Note that urban medical insurance and rural medical insurance are not universal now.

The new pension collection method stipulates that when you retire, you can collect it at the social security center where you paid the last fee before retirement, or you can collect it at the social security center where your household registration is located. So as long as you pay 15 years of social security, you can also receive a pension in other places.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.