Maximum amount of social security contributions

Legal analysis: the maximum social security payment shall not exceed 300% of the average monthly salary of employees in the city in the previous year. The social insurance payment base has an upper limit and a lower limit. The lower limit is not less than 60% of the average monthly salary of employees in this Municipality last year, not less than 50% of employees in private enterprises, self-employed households and non-urban households, not less than 100% of shareholders and owners of private enterprises and self-employed households, and not more than 300% of the average monthly salary of employees in this Municipality last year. The Municipal Bureau of Statistics publishes the average salary of employees in this city every year.

Legal basis: According to Article 15 of the Social Insurance Law of People's Republic of China (PRC), endowment insurance consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc. Twenty-seventh individuals who participate in the basic medical insurance for employees, when they reach the statutory retirement age, will no longer pay the basic medical insurance premium after retirement and enjoy the basic medical insurance benefits in accordance with state regulations; Those who have not reached the fixed number of years prescribed by the state may pay the fees to the fixed number of years prescribed by the state.