Is it useful for foreigners to pay social security in Shanghai

Friends who work in Shanghai all year round are certainly no strangers to the topic of social security, because it is very useful in Shanghai! So what are the uses? Take a look, it is recommended to collect first!

? Buying a home in Shanghai

According to the policy, foreigners who have been paying social security in Shanghai for 5 years or more can qualify to buy a home in Shanghai.

Note! It is a continuous payment, during the period of one month break can not! Once broken, you have to start all over again. And who's to say that prices won't be higher five years from now?

2. Buying a car in Shanghai

According to Shanghai regulations, foreign nationals are required to hold a certificate of residence in the city and have paid social insurance or personal income tax for three consecutive years in the city since the date of application before they can qualify for a shot at a Shanghai license plate.

The same 3 years of continuous payment cannot be interrupted!

3.? Settlement in Shanghai

Foreigners want to settle in Shanghai, one of the conditions is to pay social security for 7 years.

The license holder should meet the following conditions at the same time to apply for permanent residence in the city:

1, hold the "Shanghai Residence Permit" for 7 years;

2, the license period in accordance with the provisions of the city to participate in the city's municipal social insurance for 7 years;

3, the license period in accordance with the law in the city to pay income tax;

4, in the city was appointed to intermediate and Above professional and technical positions or have the equivalent technician or above professional qualifications, and the specialty and type of work corresponds to;

5, no illegal births, no criminal record.

4. Eligibility for passports, Hong Kong and Macao Travel Permits in Shanghai

Non-city householders who are employed in Shanghai and have paid social insurance for more than one year continuously and normally. They are eligible to apply for passports, Hong Kong and Macau Travel Permits in Shanghai.

"Continuous and normal payment of social insurance for more than one year" means that the applicant must have paid social insurance for more than 12 months since the date of application, and any supplementary payment or non-payment will not be regarded as continuous and normal payment.

5. Children's schooling in Shanghai

With the increase of foreign population in big cities and the limited local education resources, there are certain requirements on the years of social security payment for both parents of the children in order to fully utilize the local education resources.

And in Shanghai, non-Shanghai parents need to have 120 points on their residence permits before their children can go to school, otherwise they can't go to public kindergartens and take part in the college entrance exams. The accumulation of points on the residence permit is also required for social security payments.

6.? Retirement in Shanghai

According to the regulations: the basic pension insurance relationship is not in the place of domicile, but in the place of its basic pension insurance relationship accumulated contribution period of 10 years, in the place of entitlement procedures, enjoy the local basic pension insurance treatment.

That is to say, as long as you have accumulated 15 years of contributions, including 10 years in Shanghai, you can receive your pension in Shanghai when you reach retirement age.

It is important to know that the pension is related to the average social wage in the place of retirement, so the average social wage in Shanghai is generally higher than that in your place of domicile, which means that the pension in Shanghai is higher than that in your place of domicile.

7. Enjoy lifelong medical insurance treatment in Shanghai

According to Article 21 (Conditions for Employees to Enjoy Basic Medical Insurance Treatment) of the Shanghai Municipal Urban Workers' Basic Medical Insurance Measures, the employer and its employees who have paid medical insurance premiums for a total of more than 15 years (including deemed years of contribution) can enjoy basic medical insurance treatment after retirement.

Shanghai's medical level, the degree of service perfection, is certainly in the national leading position.

In short, if you want to develop in Shanghai for a long time, social security is very important! It should never be broken easily!

Five insurance and one gold refers to the employer to give the workers several kinds of security treatment of the collective name, including pension insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance, and housing fund and maternity insurance, and housing provident fund.

"Individual employees shall contribute to a housing fund in accordance with the regulations." The housing fund is a "shall contribute" item, which legally means that it must be paid, and the payment also shows that it is an obligation. [1]?

The 13th Five-Year Plan of March 23, 2016, proposed the merger of maternity insurance and basic medical insurance. This means that in the future, with the merger of maternity insurance and basic medical insurance, people are familiar with the "five insurance and one gold" or will become "four insurance and one gold", medical insurance will be merged with maternity insurance, and some large enterprises will purchase benefits for employees, such as personal accident insurance, The company's health insurance will be merged with the maternity insurance. [2]

Reference:

Five insurance and one pension - Baidu Encyclopedia