PRC Social Insurance Law
中华人民共和国社会保险法
December 14, 2010 | BY
clpstaff &clp articles &An umbrella law on five types of social insurance promulgated.
Promulgated: October 28 2010
Effective: July 1 2011
Main contents: The Law covers provisions on basic old-age insurance, basic medical insurance, occupational injury insurance, unemployment insurance and maternity insurance.
If an individual enrolled in basic old-age insurance has, at the time he/she reaches the mandatory retirement age, made contributions for a total of 15 years, he/she shall receive a monthly old-age pension (Article 16).
The Law also states that the portion of an insured's medical expenses payable from the basic medical insurance fund shall be settled by the social insurance handling organisation directly with the medical institution or pharmaceutical dealer (Article 29).
An unemployed person who is enrolled in employee basic medical insurance during the period he/she is unemployed shall be eligible for basic medical insurance benefits (Article 48).
Article 64 requires that separate accounts be opened for each social insurance fund based on its social insurance risk types. Moneys in each of the social insurance funds shall be used exclusively for their purpose.
Social insurance funds may not invest in a manner that runs counter to regulations and may not be used or diverted for other purposes in violation of laws or administrative regulations (Article 69).
clp reference:3900/10.10.28promulgated:2010-10-28effective:2011-07-01This premium content is reserved for
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