11/22/2011 | Insurance in China
QUESTION:
What kinds of insurance are available in China? Will I be covered for medical, pension, etc. benefits by my company if I take a position there?
REPLY:
Yes, you will be covered. China has recently made very significant changes to its social insurance system. Previously, employees relied on medical insurance from their own companies. However, there were no national standards on what companies had to cover or how much they had to contribute. China recently passed the Social Insurance Law, which mandates that employers must contribute to pension, medical, unemployment, maternity and work-related injury insurance. Employees must also contribute to pension, medical and unemployment insurance. For the first time, foreigners must pay into the social insurance system and will be covered for benefits. However, keep in mind that this insurance is very limited compared to Western insurance.