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Migrant Jobbers Given Pension Insurance in Shenzhen
Shenzhen lately has had its "Regulations on Pension Insurance in Shenzhen Special Economic Zone" in a new edition promulgated giving migrant jobbers the right to live on pension in Shenzhen.
The new "Regulations" stipulate that pension insurance shall cover all migrant laborers or employees working in various enterprises and all enterprise-style institutional units and civilian-run nonpublic enterprises or institutions. Private-run enterprises at county and township levels will also be included.
To enlarge the insurance coverage and alleviate burdens on enterprises and like units, a reduction has been made in basic insurance premium rate to 13 percent form 17 percent, migrant laborers need only to pay five percent of their salary while another eight percent is paid by their employer units. When a 15 years' insurance payment should be made, a monthly pension as that for a retiree in Shenzhen will be provided.
The "Regulations" also add local compensatory insurance and enterprise compensatory insurance on the basis of the former basic pension insurance. Localities and enterprises can adjust the employed laborers' insurance purchasing proportion according to their economic level so as to raise their salaries and welfare.
Specific provisions have even been made to guarantee migrant jobbers or nonnative working employees the right to take part in the pension insurance system in Shenzhen. All employer enterprises are required to familiarize the employed biannually with their insurance payments along with due "penalties" to deal with those that should produce false reports or refuse to provide detailed information on the number of insurance buyers. Any enterprise failing to comply with the "Regulations" would face a fine of 50,000 yuan, and as for a person in charge, he will be fined 10,000 to 30,000 yuan.
Wang Yujie, director of Shenzhen Social Insurance Bureau said that some 600,000 migrant jobbers and employees in Shenzhen had bought pension insurance last year. The number of insurance buyers will increase by another one million this year. A citywide pension insurance system is to be instituted by the end of this year and make Shenzhen home to all migrant laborers working in Shenzhen.
By PD Online staff member Li Yan
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