Tue, 23 Sep, 2014 02:23:11 AM FTimes-STT Report, Sept 23  File picture of Finnish social service office in Helsinki. Photo Lehtikuva. Finland and China have signed an agreement affecting the social security of people moving between the countries.
Minister of Social Affairs and Health Laura Räty signed the agreement on behalf of Finland and Deputy Minister of Labour and Social Security Hu Xiaoyi signed it for China, said an official press release.
The agreement will ensure that posted or detached employees are not required to pay pension contributions in double, which is of great importance to Finnish companies based in China and their employees.
An employee sent to China by a Finnish employer can remain in the Finnish pension scheme for the time the employee is posted in China, but for no longer than five years.
Correspondingly, posted workers from China remain within the Chinese system and are not part of the Finnish work pension and unemployment insurance.
At present, China requires insurance payments for a period of at least 15 years for an employee to be entitled to a pension.
According to the new social security agreement, a pension that may have been earned in China will be paid to Finland.
China is a growing Asian export partner for Finland. Most Finns who live in China work for Finnish companies or are family members of people working in the companies.
China has such an agreement with two other EU countries – Germany and Denmark. The social security agreement between Finland and China is expected to take effect next year after both the countries have carried out the internal measures needed to implement it.
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