07 March 2024
The People’s Government of Zhuhai Municipality (“the authorities”) issued the “Notice in relation to Further Improve Relevant Regulations for the Basic Pension Insurance for Urban and Rural Residents” (“the Notice”) on 7 March 2024. The authorities announced that the payment method of basic pension insurance for urban and rural residents will be unified as annual payment. The payment standard is divided into four standards and insured person may choose one payment standard: RMB720 per person per year, RMB1200 per person per year, RMB1,440 per person per year, and RMB1,800 per person per year. The insured person may only select one payment standard within a calendar year. This Notice shall be effective starting from 1 April 2024.