What does provincial insurance mean?

Legal analysis: Provincial social security actually refers to the social insurance business of state-owned employers and provincial employers in this province. And their employees in this province. It is based on the provincial administrative region as a whole, that is to say, the social security base is calculated based on the salary level of the whole province. In fact, it is not much different from the municipal social security, that is, the basic pension is somewhat different.

Legal basis: The basic pension in the second paragraph of Article 15 of the Social Insurance Law of People's Republic of China (PRC) 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.