Zhejiang lowers the social security threshold, pension insurance becomes "portable" - Comprehensive Information - Wenzhou Human Resources Network

Paying endowment insurance in Hangzhou City and receiving pensions in Ningbo City - such "mobile" endowment insurance will soon be realized in Zhejiang Province. The 4th meeting of the 11th Zhejiang Provincial People's Congress Standing Committee, convened on May 27, heard a report on the results of the deliberation of the 'Decision (Draft) to Amend the Regulations of Zhejiang Province on Basic Endowment Insurance for Employees', which clarified this matter. In the draft amendment, there was a special addition regarding the regulation that no restrictive conditions shall be set for the transfer of endowment insurance relationships across different regions. The Legislative Affairs Commission of the Zhejiang Provincial People's Congress Standing Committee believed that due to the relatively small amount stored in individual accounts,