Foreigners' Social Insurance Registration Deadline Extended in Beijing

Beijing has extended the time limit to the end of 2011 for foreigners working in China to sign up for the social security system, according to local social security authorities.

The social insurance scheme that took effect Oct. 15 allows foreigners with work permits in China to receive retirement, unemployment, medical, work injury, and maternity benefits -- the same as those for Chinese citizens.

About 2,000 out of the 30,000 foreigners working in Beijing have been registered to date. The rest will be able to pay monthly contributions from October into their account by Dec. 31, a social security official said.

The official added that those who want to register for the scheme next year should be prepared to pay an overdue fine at the percentage of five over 10,000.

For those who leave China, their accounts will be kept until they come back to work in China again, said the official.

He said foreigners can draw money from the account upon retirement in China, or after submitting a written application to drop the scheme. The money left in the account can also be inherited if the owner dies.

Source: Xinhua