What does the basic pension mean?

Basic pension refers to a social security policy implemented by the state or local government to solve the basic living problems of the elderly. It is a compulsory pension system, which aims to provide basic living security for eligible elderly people.

The calculation method of basic pension is usually determined according to the time and amount of social insurance premiums paid by individuals. Specifically, a part of the social insurance premiums paid by individuals each month will be used to pay the basic pension. With the increase of the time and amount of individual contributions, the personal basic pension will also increase accordingly.

In some countries and regions, the basic pension is paid in full by the government, while in other countries and regions, individuals need to pay a certain percentage of social insurance premiums to get the basic pension. In addition, some countries and regions also provide additional benefits, such as pensions and medical insurance, to help the elderly better cope with various challenges in life.

Basic pension function:

1. Promote social stability: the elderly are an important group in society, and their quality of life and health have an important impact on the stability and development of the whole society. By providing basic old-age pension and other social security measures, the economic pressure and life difficulties of the elderly can be alleviated, and social contradictions and unstable factors can be reduced.

3. Improve the sense of security of the elderly: With the support of the basic pension, the elderly can spend their old age with more peace of mind without worrying about their livelihood. This will help to improve the sense of security and happiness of the elderly and promote social harmony and stability.

4. Basic pension is an important social security policy. Its function is not only to provide basic living security for the elderly, but also to promote economic development, maintain social stability and improve their sense of security.

Refer to the above content: Baidu Encyclopedia-Basic Pension