Shanghai's Lin-gang Special Area has recently rolled out the second version of its enterprise annuity policy for talent, with broader coverage, more inclusive incentives, and greater flexibility.

The release ceremony of Lin-gang's new enterprise annuity policy for talent. [Photo/WeChat ID: shlgguanweihui]

Once mostly limited to companies in key industrial sectors, eligibility has been expanded to include social groups, private non-enterprise entities, and new-type public institutions. As long as the company is registered in Lin-gang, its subsidiaries nationwide can also participate in the program.

In addition, the new policy is more inclusive, lowering the individual contribution rate from a maximum of 8 percent to 5 percent and introducing a new contribution base linked to social security payments.

The updated policy also offers greater autonomy for employers. Previously restricted to three fixed contribution levels, companies can now adjust rates and vesting periods within a given range to suit different talent.

Taron, general manager of STÜKEN Shanghai, cited Lin-gang's annuity policy as a valuable tool for companies when it comes to reducing taxes and attracting talent.