State basic pension insurance individual contribution rates

Pension insurance, the full name of the basic social old-age pension, that is, composed of the basic pension paid by the social coordination fund and the individual account pension, is an important part of the social security system, is one of the most important of the five types of social insurance insurance, is the state and society in accordance with certain laws and regulations to solve the problem of the laborers in the reach of the state stipulated the termination of the It is a social insurance system established by the state and society in accordance with certain laws and regulations to solve the basic livelihood of workers after they reach the working age limit stipulated by the state for the termination of their labor obligations, or after they lose their ability to work and quit their jobs due to old age. The proportion of individual contributions for pension insurance is generally based on the regulations of the social security department, and the actual salary is used as the contribution base. I. The amount of enterprise contributions = total authorized enterprise employee wages × 20%; the amount of individual employee contributions = authorized contribution base × 8% (currently 8%). Second, individual workers (including individual businessmen and freelancers) contribution amount = approved contribution base × 18%.

Article 16 of the Social Insurance Law: Individuals who participate in basic old-age pension insurance and who have accumulated 15 years of contributions by the time they reach the legal retirement age shall receive a basic pension on a monthly basis. Individuals who have participated in basic pension insurance and have contributed for less than fifteen years by the time they reach the statutory retirement age may contribute until they reach the fifteenth year and receive a basic pension on a monthly basis; they may also be transferred to the new type of rural social pension insurance or urban residents' social pension insurance, and shall enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.