People's Republic of China

Sie befinden sich hier:

Old Age Pension Insurance Scheme of State Authorities and Public Institutions

机关事业单位养老保险

Coverage

Mandatory insurance

Public employees working for state authorities and public institutions.

Financing

General finances

Combined financing mechanism consisting of tax- and PAYG-financed ‘social pooling fund’ and capital-funded individual accounts.
Social pooling fund: PAYG-financed from insurance contributions of employers, partly tax-financed out of the general budget.
Notional individual accounts: capital-funded based on contribution payments in individual accounts of employees (incl. capital revenues).

Contribution rates

Employer contribution: 20% of the total sum of wages paid by employers to their public employees.¹
Employee contribution: fixed share of monthly wage (8%) credited to individual account with contribution assessment floor and ceiling (respectively 60% and 300% of the average monthly wage of the local employees).

Taxation of contribution payments

All contributions are 100% tax-exempt.

Administration

The local social insurance authorities and their executive bodies, i.e. ‘the Local Social Insurance Enforcement Agencies’ (社会保险经办机构) manage the scheme.
The ‘Ministry of Human Resources and Social Security’ manages the scheme for the central state authorities and their affiliated public institutions.

Qualifying Conditions

Qualifying conditions

Statutory retirement age is 60 for men and 55 for women; minimum insurance periods: 15 years.²
Employees with total work incapacity: retirement age is 50 for men and 45 for women.

Early retirement

No option of early retirement.

Deferred retirement

Retirement can be deferred if approval is received (based on relevant national policies and the cadre management authority); after reaching the age of 70 the person can choose whether to pay contributions or not.

Combining employment & retirement

Receiving pension benefits requires termination of employment.

Benefits

Pension benefits

See basic old age pension insurance scheme for employees for pension benefits of persons entering employment after 01/10/2014.
No specification in law regarding fixed minimum and maximum amount of pension benefits.

Factors for benefit calculation

See basic old age pension insurance scheme for employees.
Adjustment of pension value accounts for changes in average wages of employees and price increases.

Taxation and social security contributions

Pension benefits are not subject to income tax.
Information on social security contributions is currently not available.

Coverage

Financing

Administration

Qualifying Conditions

Benefits

Mandatory insurance

Public employees working for state authorities and public institutions.

General finances

Combined financing mechanism consisting of tax- and PAYG-financed ‘social pooling fund’ and capital-funded individual accounts.
Social pooling fund: PAYG-financed from insurance contributions of employers, partly tax-financed out of the general budget.
Notional individual accounts: capital-funded based on contribution payments in individual accounts of employees (incl. capital revenues).

Contribution rates

Employer contribution: 20% of the total sum of wages paid by employers to their public employees.¹
Employee contribution: fixed share of monthly wage (8%) credited to individual account with contribution assessment floor and ceiling (respectively 60% and 300% of the average monthly wage of the local employees).

Taxation of contribution payments

All contributions are 100% tax-exempt.

The local social insurance authorities and their executive bodies, i.e. ‘the Local Social Insurance Enforcement Agencies’ (社会保险经办机构) manage the scheme.
The ‘Ministry of Human Resources and Social Security’ manages the scheme for the central state authorities and their affiliated public institutions.

Qualifying conditions

Statutory retirement age is 60 for men and 55 for women; minimum insurance periods: 15 years.²
Employees with total work incapacity: retirement age is 50 for men and 45 for women.

Early retirement

No option of early retirement.

Deferred retirement

Retirement can be deferred if approval is received (based on relevant national policies and the cadre management authority); after reaching the age of 70 the person can choose whether to pay contributions or not.

Combining employment & retirement

Receiving pension benefits requires termination of employment.

Pension benefits

See basic old age pension insurance scheme for employees for pension benefits of persons entering employment after 01/10/2014.
No specification in law regarding fixed minimum and maximum amount of pension benefits.

Factors for benefit calculation

See basic old age pension insurance scheme for employees.
Adjustment of pension value accounts for changes in average wages of employees and price increases.

Taxation and social security contributions

Pension benefits are not subject to income tax.
Information on social security contributions is currently not available.

¹Since 01/05/2019, the contribution rate of the employer can be reduced to 16%; provinces with employer’s contribution rates below 16% must also propose transitional measures to reduce the financial burden on the employer. The adjustment of the contribution rate or the transition plan shall be reported to the Ministry of Human Resources and Social Security and the Ministry of Finance for record.

² Participants may pay contributions on a lump sum basis to attain 15 years of insurance if they have been continuously paying contributions for 5 years after reaching the statutory retirement age.

Legal Basis: Social Insurance Law of the People's Republic of China (中华人民共和国社会保险法); Individual Income Tax Law of the People’s Republic of China (中华人民共和国个人所得税法); Regulation on the Implementation of the Enterprise Income Tax Law of the People's Republic of China (中华人民共和国企业所得税法实施条例); Several Provisions on Implementing the Social Insurance Law of the People's Republic of China (实施《中华人民共和国社会保险法》若干规定); Decision of the State Council on the Reform of the Old Age Pension Insurance System for Staff Members of State Authorities and Public Institutions (国务院关于机关事业单位工作人员养老保险制度改革的决定), 国发[2015]2号; Notice of the Ministry of Human Resources and Social Security and the Ministry of Finance on Implementing the Decision of the State Council on the Reform of the Old Age Pension System for Staff Members of State Authorities and Public Institutions (人力资源社会保障部、财政部关于贯彻落实《国务院关于机关事业单位工作人员养老保险制度改革的决定》的通知), 人社部发[2015]28号; Notice of the General Office of the State Council on Issuing the Comprehensive Plan of Reducing Social Insurance Contribution Rates (国务院办公厅关于印发降低社会保险费率综合方案的通知), 国办发[2019]13号.