What does double social security mean?

The social security base is determined according to the average monthly income of employees from June 1 to February 1 of the previous year. Generally speaking, the average pre-tax monthly salary from June 65438 to February 65438 of the previous year. Social wage refers to the average wage obtained by dividing the total wages of all employees in the area where social security is paid by the number of employees in the previous year, which is obtained by the ratio of the total wages of all employees in the previous year to the average number of employees in the area.

The social security payment base is as follows:

1. The payment base of social security refers to the wage base used by enterprises or employees to calculate and pay social insurance premiums. This base is multiplied by the prescribed rate, which is the amount of social insurance premiums that enterprises or individuals should pay;

2, around the social security payment base and the local average wage data. It is determined according to the average monthly wage income of employees from June 1 day to February 1 day in the previous year. Once a year, it will not change within one year after confirmation. The time to apply for adjusting the social security base is generally in July;

3 enterprises generally take the total wages of enterprise employees as the payment base, and individual employees pay social insurance premiums according to half of their average monthly wages in the previous year. In China, the payment base is approved by the social insurance agency according to the employer's declaration.

To sum up, doubling the social security base means paying double the old-age insurance premium according to the standard payment base.

Legal basis:

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

Article 4

Employers and individuals in People's Republic of China (PRC) pay social insurance premiums according to law, and have the right to inquire about payment records and personal rights records, and require social insurance agencies to provide social insurance consultation and other related services.

Individuals enjoy social insurance benefits according to law and have the right to supervise the payment of their own units.

Article 5

The people's governments at or above the county level will incorporate social insurance into the national economic and social development plan.

The state raises social insurance funds through multiple channels. People's governments at or above the county level shall give necessary financial support to social insurance.

The state supports social insurance through preferential tax policies.