At the launching event of Shandong's talent annuity pilot program on November 16, it was revealed that Shandong has officially initiated the talent annuity pilot program in order to enhance the quality and efficiency of enterprise annuity plans and contribute to the development of a comprehensive social security system. The first seven pilot cities are Jinan, Qingdao, Zibo, Dongying, Yantai, Weifang, and Weihai.

This year, the Human Resources and Social Security Department of Shandong Province, along with other relevant departments, jointly issued the Guiding Opinions on Accelerating the Development of Enterprise Annuity and released the Trial Measures for Talent Annuity in Shandong Province. The plan is set to be implemented in a selection of cities (with districts) for a one-year trial period.

The Trial Measures for Talent Annuity in Shandong Province clearly stipulates that employers providing the basic endowment insurance for enterprise employees and fulfilling their payment responsibilities can prioritize establishing a talent annuity for employees who meet the company's development needs, if they are unable to establish an enterprise annuity for all employees temporarily. Qualified areas are encouraged to provide payment subsidies for employers that establish talent annuities. The talent annuity system will be tested in certain cities for a year before being implemented gradually.