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The difference between high-level and low-level social security
The difference between low-grade and high-grade social security contributions of flexible employees lies in the difference between receiving more and less pensions after retirement. If you pay more, you will get more in the future, and vice versa.
High-grade payment is 100% of the social security payment base, low-grade payment is 60%, and the gap is 40%. If it continues to deteriorate, the payment period will be the same, and the retirement pension will differ by at least 40%.
Legal basis: People's Republic of China (PRC) Social Insurance Law.
Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law in case of old age, illness, industrial injury, unemployment and maternity.
Article 3 The social insurance system adheres to the principles of wide coverage, basic protection, multi-level and sustainability, and the level of social insurance should be compatible with the level of economic and social development.
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