As Shanghai's first district-level talent enterprise annuity program, the Lin-gang Special Area Talent Enterprise Annuity Plan has undergone a major upgrade.

The optimized policies are valid through Dec 31, 2030, providing sustained support for both enterprises and talent.

The upgrade greatly broadens coverage. All companies operating in the Lin-gang Special Area are now eligible to apply for participation. For existing corporate groups, subsidiaries across China are also eligible to join, regardless of their registered location.

The program also makes incentive subsidies more accessible. The eligibility threshold for talent incentive bonuses has been lowered, and a new contribution base option — linked to the social security payment base — has been introduced. This allows both employers and employees to set contribution standards based on actual circumstances.

Greater autonomy is built into the scheme's design. Contribution ratios for employers and employees can be set independently within a prescribed range to accommodate different stages of enterprise development and workforce needs. Employers may also determine the proportion and timing of how their contributions are allocated to employees' individual accounts.

Initiated by the Lin-gang Special Area Administration, the program is managed by a dedicated state-owned enterprise that delivers professional management and risk-control services, ensuring the safe and compliant operation of the funds.

Under the incentive framework, eligible employees may receive up to 10,000 yuan ($1,446) per person per year, which is credited directly to their individual annuity accounts. The plan also adopts an accelerated vesting schedule, allowing employees to receive 40 percent of the benefits after two years and 100 percent after five years.