In the group, @keyahayek shared information about Shanghai social insurance, distinguishing between employee social insurance and resident social insurance. I just found out today that if you have no employer, paying the minimum employee social insurance (through a company affiliation) is the most uncost-effective option. It's better to go directly with resident social insurance, which is the most cost-effective in all of China.

For residents, the pension is a one-time payment of 15,000, and once retired, you can start receiving benefits. This benefit is not available for those outside Shanghai.

In summary: Shanghai residents who are unemployed should never rely on a company affiliation to pay the minimum social insurance; just go directly with resident social insurance.