Document No (36) 2003

Issued by Pension Policy Division of Shanghai Municipal Labour & Social Security Bureau, August 18, 2003

To all the Governments at district and county level, all Commissions, Offices, Bureaus, the Holding (group) corporations, the Municipal Settlement & Administration Center for Social Insurance Funds, and Social Insurance Administration Centers at the district and county level:

In accordance with the Circular on Adjusting Individual Contribution Rate of Basic Pension by Ministry of Labour & Social Security (Document No.6 by Ministry of Labour & Social Security), and upon the approval of the Shanghai Municipal People’s Government, the contribution rate of old-age pension of employees in towns and cities of Shanghai, shall be adjusted from August 1, 2003.  The stipulations is as the follows:

1. The individual contribution rate by which employees shall contribute on their wages basis is increased from 7% to 8%.

2. With adjustment of the individual contribution rate, the rate of contributions by the employing unit recorded into the worker’s individual account shall be adjusted to 3%.