Proportion of individual contributions to social security and old-age care

What is the payment ratio of endowment insurance? Generally speaking, companies account for 20% and individuals for 8%. Enterprises in different regions and industries are slightly different, subject to local regulations.

The contribution ratio of endowment insurance is 8% for individuals and 20% for units. The proportion of individual contributions to old-age insurance is generally subject to the provisions of the social security department, with the actual salary as the payment base. Endowment insurance is a kind of social insurance system established by the state and society for the basic life of workers after they reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age.

Old-age insurance will take effect automatically after the elderly within the legal scope "completely" or "basically" withdraw from social labor life. The so-called "complete" is characterized by the separation of workers from the means of production; The so-called "basic" means that participation in production activities has not become the main content of social life. The legal age limit is a practical measure. At the same time, the insured can only meet the following two conditions: (1) meeting the retirement conditions stipulated by the state and handling relevant procedures; According to the provisions of the basic old-age insurance premium accumulated payment period of 15, approved by the administrative department of labor and social security, can receive a monthly basic pension and funeral subsidies.

It is a social insurance system that guarantees the basic livelihood of workers after they reach the working age limit stipulated by the state, terminate their labor obligations or quit their jobs because of old age. The purpose is to ensure the basic needs of the elderly through social insurance and provide them with a stable and reliable source of life.

Legal basis:

People's Republic of China (PRC) Social Insurance Law Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance to protect citizens' right to get material help from the state and society in the event of old age, illness, industrial injury, unemployment and maternity.