Shanghai Municipal Enterprise Supplementary Pension Insurance Trial Opinions

Notice of Shanghai Municipal Bureau of Labor and Social Security on the Settlement of 2005 Proceeds Distribution of the Municipal Supplementary Insurance Fund

Shanghai Municipal Social Insurance Fund Settlement Management Center, district and county social insurance business management centers, and all insured units:

According to the actual performance of the fund's operation in 2005, the following matters concerning the distribution of proceeds from the supplemental old-age insurance and living allowance fees of the land- requisitioned people in 2005 are notified as follows. The matters related to the distribution of the proceeds of the supplemental pension insurance are notified as follows:

Allocation of the proceeds of the supplemental pension insurance

Participating units and individuals are notified in accordance with the "Shanghai Municipal Enterprises Trial Opinions on Supplemental Pension Insurance" [Shanghai Social Security Industry No. 1 (1997) 18] and the "Notice on the Pension Insurance Premiums Extracted from Units with Total Wages in Excess of the Base Payment for Basic Pension Insurance" [Shanghai Social Security Industry No. 1 (1997) 19 Notice" [Shanghai Labor Insurance Supplementary Issues (2000) No. 28], "Notice on Issues Relating to the Standardized Management of Supplementary Social Insurance for Small Towns in the City" [Shanghai Labor Insurance Fufa (2003) No. 47], the supplemental old-age insurance premiums paid by the units and individuals in 2004 were used for the calculation of benefits according to the rate of benefit distribution of the supplemental old-age insurance. Among them, the stored amount of the supplementary pension insurance account at the end of 2004 of each insured unit and individual is calculated as earnings at the earnings distribution rate of 4.00%, and the earnings of the supplementary pension insurance premiums paid in each month of 2005 are calculated at the earnings distribution rate of each month as follows.

Month 123456

789101112

Yield % 4.003.673.333.002.672.332.001.671.331.000.670.33

Two, on the allocation of proceeds from the living subsidy fees of the expropriated persons

According to the "Regulations on the City's Notice on Issues Related to the Standardized Management of Supplementary Social Insurance in Small Towns" [HuLaoBaoFuFa (2003) No. 47], the proceeds of the living subsidy fee for the expropriated persons were calculated according to the rate of distribution of proceeds of the living subsidy fee for the expropriated persons. Among them, the amount stored in the individual account of the living allowance fee of the expropriated person at the end of 2004 is calculated as earnings at the earnings distribution rate of 1.44%, and the living allowance fee of the expropriated person paid in each month of 2005 is calculated as earnings at the earnings distribution rate of the following months.

Month 123456

789101112

Yield rate %1.441.321.201.080.960.840.720.600.480.360.240.12

Third, the individual supplemental old-age insurance premiums paid by the insured persons in accordance with the relevant regulations of the Municipal Labor and Social Security Bureau. The benefits are calculated with reference to the benefit distribution rate of the supplementary pension insurance.

Fourth, the city, districts and counties supplemental insurance agencies should accurately and timely distribution of the 2005 supplemental insurance proceeds and credited to individual accounts, to the insured units and individuals issued the relevant reconciliation vouchers.

Shanghai Municipal Bureau of Labor and Social Security

December 31, 2005

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