What does 8% of individual social security contributions mean?

1, and the individual contribution ratio of 8% refers to the payment of old-age insurance premiums. According to the provisions of the relevant state departments on the payment of endowment insurance premiums, the standard payment base is 28% of the average wage of the local society.

2. Among them, 20% is paid by the unit into the whole society as a whole, 8% is paid by the individual into the personal account balance, and 8% of the individual contribution ratio refers to the part paid by the individual into the personal account balance.