Shanghai People’s Government Issue (1995) No. 6

To: People’s governments of district and county levels, and commissions, offices and bureaus of municipal government

According to the regulations in Shanghai Urban Employees’ Pension Management Measures and Rules for Labor Personnel Administration in Foreign Invested Enterprises in Shanghai, decisions regarding the centralized management of pension of the Chinese employees in foreign invested enterprises in Shanghai are made as follows:

1. The management of pension of Chinese employees in foreign invested enterprises in Shanghai, which has been handled by Shanghai Branch of PICC in line with Shanghai People’s Government Issue「1986」 No. 50, is to be transferred to Shanghai Social Insurance Administration Bureau from Feb. 1st, 1995. The management of pension of Chinese employees in foreign invested enterprises in rural areas is to be studied and decided between the Shanghai Social Insurance Administration Bureau and the Municipal Civil Administration.

2. Before the formulation and enforcement of interim measures of pension management for Chinese employees in foreign invested enterprises in Shanghai, the above-mentioned foreign invested enterprises shall, from Feb. 1st, 1995 on, pay pension premium equivalent to 30% of the total wages of the on-the-job Chinese employees in the previous month to pension management authorities of the district or county. And the pension management authorities shall temporarily provide pension to the retirees according to the provisions in Shanghai People’s Government Issue (1986) No. 50.

3. The above mentioned Chinese employees of foreign invested enterprises shall pay their personal portion of pension premium in line with the provisions in the Shanghai Urban Employees’ Pension Management Measures, and have personal pension account set up by pension management authorities.

4. Shanghai Social Insurance Administrative Bureau, Shanghai Civil Administrative Bureau, Shanghai Branch of PICC, and other related departments shall work together for the smooth transfer of the above business.