Does social security increase once a year?

Because prices are rising and wages are rising, the amount of payment in all parts of the country will continue to rise every year, and the increase is also very fast. The reference value of annual growth rate is about 10%, and the selected grade of residents' pension will not change; The payment base of employee social security changes every year with the change of the average salary of employees on the job. To determine the adjustment scope of social security, we need to consider three principles: ensuring basic living, sharing development achievements, and affordable funds.

The payment base of social security is mainly determined according to the average monthly salary of the society in the area where the employees are located in the previous year. The minimum social security for employees should not be less than 60% of the average social wage, and the maximum should not be higher than 300% of the average social wage.

If it is an on-the-job employee, it is based on the salary of the current month. Taking Shanghai as an example, the upper and lower limits of social insurance payment base for urban employees in Shanghai are 20 1396 yuan and 4,279 yuan respectively, and the upper and lower limits of social insurance payment base for employees are 20 19 yuan respectively.

To sum up, the social security in every place will increase every year, and the social security payment is determined according to the average wage of the local society. When the average wage level of local society rises, social security contributions will naturally rise.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 69

On the premise of ensuring safety, the social insurance fund shall be invested and operated in accordance with the provisions of the State Council to maintain and increase its value. Social insurance funds shall not be used for illegal investment and operation, for balancing other government budgets, for building or rebuilding office buildings, and for paying personnel expenses, operating expenses and management expenses, or for other purposes that violate laws and administrative regulations.

Article 70

Social insurance agencies shall regularly announce their participation in social insurance and the income, expenditure, balance and income of social insurance funds to the public.