According to a notice by the Shanghai Human Resources and Social Security Bureau, foreigners and overseas Chinese are now entitled to social security benefits if they possess a Shanghai residence card and a valid work contract with a Shanghai employer. This means that foreigners who meet the relevant requirements can enjoy the same benefits as their Chinese counterparts. Under the new policy, foreigners who fall sick will be entitled to compensation. However, this does not include medical bills incurred outside the country. Foreigners will also be entitled to retirement pensions if they have been paying into the city’s pension fund for a specific period of time. The current retirement age in Shanghai is 60 for men and 55 for women.
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