Regulations on Retirement Administration in Guangzhou
Retirement policy is of vital interest to almost everyone. In China, retirement policy may vary in some respects in different cities. There is a summary of retirement regulations in Guangzhou as following:
- Regulations on Retirement
(1)
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Retirement age
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Gender
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Identity
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Statutory Retirement age
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Male
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Cadre/worker
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60
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Female
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Cadre
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55
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Worker
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50
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(2)
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Identity
The identity standard of a retiree is based on the information in the last labour contract signed with the employer. The retiree shall be identified as cadre if the contract shows “management position?
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(3)
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The minimum payment years for claiming pension
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Household Registrations
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Years of Payment
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Guangdong
Residence
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a. The pension insurance has been paid in Guangzhou for more than 15 years and the last contribution was made in Guangzhou, the retirees can get pension when reach retirement age
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b. The total payment years of pension insurance in Guangzhou and other cities are more than 15 years, the pension in other cities have been transferred to Guangzhou which is the location of the last contribution made, the retirees can get pension when reach retirement age
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Non-Guangdong
Residence
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a. The pension insurance has been paid in Guangzhou for more than 15 years and the last contribution was made in Guangzhou, the retirees can get pension when reach retirement age
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b. The total payment years of pension insurance in Guangzhou and other cities of Guangdong province are more than 15 years, the pension in other cities of Guangdong province have been transferred to Guangzhou which is the location of the last contribution made, the retirees can get pension when reach retirement age
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(4)
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Procedures for retirement
Two months before reaching the statutory retirement age, retirees or the employer shall go to Guangzhou Social Security Bureau to go through the formalities of retirement. The required documents include original ID card, social insurance card, household register, the agreement between the employer and the retirement administration department, the agreement between the employer and the retirees, archives of the retirees.
The retirement procedure will charge RMB3,000 (either paid by the employer or the retiree based on their negotiation), retirees shall get the pension in the next month after finishing the retirement procedure.
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- Conditions for Enjoying Medical insurance Benefits after Retirement
(1)
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Regulations on accumulated payment years for medical insurance
Even if retirees reach the statutory retirement age, they are still required to make supplementary payments for medical insurance until reach the stipulated conditions of accumulated payment years to enjoy medical insurance benefits after retirement. The detailed regulations are as following:
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Retirement Time
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Regulations on Accumulated Payment Years
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Medical insurance paid before 2014 in Guangzhou
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The accumulated payment time for medical insurance are more than 10 years in Guangzhou
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Medical insurance paid after 2014 in Guangzhou
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The accumulated payment time for medical insurance is more than 15 years, and the minimum payment time in Guangzhou is 10 years
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Note: Guangzhou residence can make supplementary payments for medical insurance no matter where they claim retirement pension; However, non-Guangzhou residence are not allowed to make supplementary payments for medical insurance unless they can claim retirement pension in Guangzhou (under these 2 situations, retirees have to pay medical insurance in Guangzhou for at least one month before making supplementary payments).
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(2)
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Contribution base and the rate for supplementary medical insurance
The contribution base shall be the minimum contribution base of medical insurance in Guangzhou, the payment rate is 7.5%.
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