By LUO Ai and TANG Xiaojing King & Wood Mallesons’ Commercial & Regulatory group.
On November 28, 2016, the Ministry of Human Resources and Social Security (“MHRSS”) issued the Notice on Several Issues in the Transfer and Continuation of Basic Pension Insurance of Urban Enterprise Employees (the “Notice”) clarifying several issues arising from the implementation of the Interim Measures for the Transfer and Continuation of Basic Pension Insurance of Urban Enterprise Employees(the “Interim Measures”) since 2010.
Regulations on Urban Employees’ Basic Pension Transfer and Continuation
Under the Social Insurance Law of the People’s Republic of China enacted in 2010, the basic pension fund should gradually be pooled at a nationwide level, and other social insurance funds gradually be put under provincial pooling. Currently, however, the basic pension fund is provincially pooled.
Continue Reading New Rules for Basic Pension Transfer and Continuation