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PRC Social Security Scheme 61623; Major Characteristic of PRC Social Security Scheme Only applicable to Chinese local employees Local requirements may vary from locality to locality. 61623; Structure of Social Security Scheme Pension Unemployment Insurance Medical Insurance Housing National Requirement Pension 61623; ? Decisions of the State Council Concerning the Establishment of a Unified System of Basic Old-age Insurance for Staff and Workers of Enterprises? (July 16, 1997) 61623; Structure of the Basic Pension Scheme Requires mandatory participation by enterprises and employees; Comprises 2 elements: a. Basic Pension Pooling Account b. Basic Pension Individual Account 61623; Enterprise Contribution Maximum contribution of 20 % of the total wages of the enterprises in general unless approved by Labour Bureau and Ministry of Finance. For a foreign investment enterprise, the total wages only cover Chinese local employees? wages.
Among the 20 % contribution: a. start at 7 % of employee salary in 1997, to be gradually reduced to 3 %, for contribution into the Basic Pension Individual Account b. 13 % to 17 % goes to Basic Pension Pooling Account 61623; Employee Contribution Start at 4 % of employee salary in 1997, to be gradually increased to 8 % Contribution goes to Basic Pension Individual Account National Requirement? Unemployment Insurance 61623; ? Unemployment Insurance Regulation? issued by State Council on January 22, 1999. 61623; Mandatory participants Requires mandatory participation by enterprises and employees; ? Enterprise?
refers to? Urban enterprises and institutions? , including: a. State-owned enterprises; b. Urban collective enterprises; c.
Foreign investment enterprises; d. Urban private enterprises; and e. Other urban enterprises? Employee? refers to?
Staff and workers of urban enterprises and institution? 61623; Contribution Employer contribution 2 % of the total wages of the enterprises; Employee contribution 1 % of the employee? s wage National Requirement? Medical Insurance 61623; ? Decisions of the State Council Concerning the Establishment of a Basic Medical Insurance System for Urban Staff and Workers? issued by State Council 61623; Mandatory participants Requires mandatory participation by enterprises and employees; ? Enterprises?
refers to? all urban enterprises? , including: a. State-owned enterprises; b. Urban collective enterprises; c.
Foreign investment enterprises; d. Urban private enterprises; e. Government organizations, institutions; f. Social organizations; and g.
Non-governmental non-enterprise units. ? Employees? refers to? employees of the above-mentioned enterprises? 61623; Contribution Employer contribution?
approximately 6 % of the total wages of the enterprises; Employee contribution 2 % of the employee? s wage National Requirement? Housing 61623; ? Administrative Regulation on Housing?
issued by the State Council on April 3, 1999. 61623; Mandatory participants Requires mandatory participation by enterprises and employees; ? Enterprises? refers to? all urban enterprises? , including: a. Government organizations, institutions; b.
State-owned enterprises; c. Urban collective enterprises; d. Foreign investment enterprises; e. Urban private enterprises; and f.
Other Urban enterprises. ? Employees? refers to? employees of the above-mentioned enterprises? 61623; Contribution Employer contribution? minimum contribution 5 % of the total wages of the enterprises; Employee contribution? minimum contribution 5 % of the employee?
s wage Local Requirements 61623; Local requirements regarding contribution ratios may be different from national requirements, which vary from locality to locality based on the relevant regulations stipulated by local governments. 61623; A Summary of contribution rations (expressed as a percentage of the employee gross wages) to social security funds in the following cities (as of July 1999)
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