In 2o15, Sinopec made a new policy of downsizing

Summary. Sinopec is a state-owned enterprise, and all welfare benefits and wages are implemented in accordance with national regulations, and there is a basis for issuing living allowances to retired employees. Legal basis: Article 21 of the Measures for the Implementation of Enterprise Annuity of China Petroleum Engineering Construction Corporation In the personal account of enterprise annuity, the individual contribution and its income are all owned by the employee; At the time of my resignation, according to the continuous working years of the employees in the enterprises of the group company, the pension insurance received by the retired employees of Sinopec includes Regarding the issuance of the "China Petroleum Engineering Construction Wholly Foreign-Owned Enterprises shall determine all the rights and interests of individuals in accordance with the following methods:

1) Employees who have worked for less than 5 years are not entitled to all the rights and interests of the company's contribution and its income. The amount of enterprise contributions and their rights and interests are credited to the enterprise account. (2) Employees who have worked for 5 years but less than 10 years shall enjoy all the rights and interests of the enterprise contribution and part of its income.

Among them: Sinopec is a central enterprise, all benefits and wages are implemented in accordance with national regulations, and there is a basis for issuing living subsidies to retired employees. Legal basis: Article 21 of the Measures for the Implementation of Enterprise Annuity of China Petroleum Engineering Construction Corporation In the personal account of enterprise annuity, the individual contribution and its income are all owned by the employee; At the time of resignation, according to the employee's continuous working years in the enterprises of the group company, the pension insurance received by the retired employees of Sinopec includes Regarding the issuance of the "China Petroleum Engineering Construction Wholly Foreign-Owned Enterprise, all the rights and interests of individuals shall be determined according to the following methods: (1) Employees with less than 5 years of service shall not enjoy all the rights and interests of the enterprise contribution and its income.

The amount of enterprise contributions and their rights and interests are credited to the enterprise account. (2) Employees who have worked for 5 years but less than 10 years shall enjoy all the rights and interests of the enterprise contribution and part of its income. Where:

Those who have worked for more than 5 years but less than 6 years enjoy 50% of all rights and interests; Those who have worked for 6 years but less than 7 years enjoy 60% of all rights and interests; Those who have worked for 7 years but less than 8 years enjoy 70% of all rights and interests; Those who have worked for 8 years but less than 9 years enjoy 80% of all rights and interests; Those who have worked for 9 years but less than 10 years enjoy 90% of all rights and interests. All benefits that are not attributable to individual employees are credited to the corporate account. (3) Employees who have worked for 10 years or more are entitled to all rights and interests in the amount of enterprise contributions and their earnings.

Article 22 If an employee is transferred between enterprises within the group company, all his personal accounts shall be transferred with him/her, and the funds in his personal account shall be transferred in full. Article 23 If an employee dissolves or terminates the labor contract with his or her employer and goes to work in other enterprises of the group company and the enterprise has established an enterprise annuity, the full amount of individual contributions and its income in his personal account shall be transferred, and the amount of enterprise contributions and its income shall be transferred according to the amount determined by all the rights and interests of the individual.