Social security is contributed nationwide, not city specific. It goes to a national fund, but the rate depends on the city or village you are from.
I don’t think this change is because HK residents have made any demand. It will take place anyway. It is just an elements in the integration process of great Pearl river Bay Area has been planned for some time.
That is what I thought too. But some people like more sensational stories, particularly those that make them feel they just revealed some hidden evils. Media is more than happy feeding it to them.
Well the thing is taxes and social security is a central gov revenue/admin. He can only get the benefits in his hometown.
If you talk to those young rioters, many of them will hardly go to China now due to their hatred and superiority complex. I have friends and relatives in the yellow camp, those yellow supporters would visit China from time to time before but after the riots they refuse to visit China (Another reason is if they have participated in the riots, I don't think they can enter China now). The policy is for those pro-China HK people that provide an escape way for them due to deteriorating future economic prospect and overall safety of HK (CCP never give up on HK people but only to those willing to integrate into China).
Local taxes are only 'council fees' n property taxes, income tax and social security are central government managed. So for example if i worked in Gz for 20 years, i still get to enjoy my social security in my hometown. The situation is now reversed, alot of ppl want to maintain their rural hukou to keep their land. Properties in cities are only for 40 or 70 years. Rural land is special, it not freehold but has no expiration in land use as long as you maintain your hukou. Best strategy is buy property in second tier cities which still allow non hukou to buy them and keep your rural hukou. Alot are doing this.
I think thats the breakdown of collection by province. You can google and read more about China social security fund. Money is not burned, you can receive your pension even when you move back to your hometown.I mean why are the funds accrued to individual provinces if the central government manages it? It doesn't go to a common pool right?
If its not centrally managed, they wouldnt be moving funds to help out the shortfall in other provinces. But the notion that i paid pensions in Gz but i couldn't use them is wrong, my father worked in Hangzhou and retired in another province, he still claims his pension
