How do foreigners retire in Shanghai?

Foreigners who want to retire in Shanghai need to meet certain conditions and procedures. First of all, you need to pay social security 10 years in Shanghai to reach the legal retirement age. Secondly, certain preparation and application procedures need to be carried out before retirement, including applying to the unit or social security agency and verifying retirement benefits. Finally, after retirement, you need to receive a basic pension or other related benefits in accordance with regulations.

First, pay social security.

Outsiders who retire in Shanghai need to pay endowment insurance 10 years or more. Individuals who do not have a fixed occupation can pay by participating in the endowment insurance for urban and rural residents or the endowment insurance for flexible employees. At the same time, it should be noted that individuals should pay enough insurance premiums in accordance with the regulations when paying social security, so as not to affect retirement benefits.

Second, go through retirement procedures.

Before retiring in Shanghai, foreigners need to apply for retirement to their units or social security institutions, and submit relevant supporting materials. Specifically, it includes ID card, household registration book, social security card and payment record. At the same time, it is necessary to approve retirement benefits and determine the basic pension and other related benefits that can be received after retirement. When approving the treatment, we need to pay attention to the influence of personal payment period, payment base and other factors on the treatment. Finally, after completing the retirement formalities, you need to receive the basic pension or other related welfare benefits in accordance with the regulations.

To sum up:

Foreigners need to meet certain conditions and procedures when they retire in Shanghai. First of all, you need to pay endowment insurance 10 years or more to reach the legal retirement age. Secondly, before retirement, procedures such as application and treatment approval need to be carried out. Finally, after retirement, you need to receive a basic pension or other related benefits in accordance with regulations. At the same time, the government is constantly improving relevant policies and services to improve the quality of life and welfare of retirees.

Legal basis:

Article 16 of the Social Insurance Law of People's Republic of China (PRC) stipulates that individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis when they reach the statutory retirement age and have paid the accumulated contributions for fifteen years. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council. Please consult relevant websites or departments for specific regulations.