Shanghai flexible employment payment ratio co-ordination?

According to Shanghai Local Treasure, the percentage of pension insurance contributions for employee social security, in which Shanghai's flexibly employed people participate, is co-ordinated. This means that 12% of the pension insurance premiums paid by flexibly employed people will go into a coordinated fund for the overall operation of social pension security. The other 8% goes into the personal account, which can be used for pension payments after retirement. The proportion of contribution is in accordance with the relevant regulations of the State and Shanghai Municipality to ensure that the social security fund is sufficient and rationally utilized.