How much is the state subsidy for endowment insurance?

The way for the state to subsidize the old-age insurance is: if an individual pays social security by flexible employment, and the male is over 50 years old and the female is over 40 years old, then the state subsidizes 500 yuan every month. Individual industrial and commercial households without employees did not participate in the basic old-age insurance in the employer.

The endowment insurance in China consists of four levels. The first level is basic old-age insurance, the second level is enterprise supplementary old-age insurance, the third level is personal savings old-age insurance, and the fourth level is commercial old-age insurance. In this multi-level old-age insurance system, the basic old-age insurance is the first and highest level.

The basic old-age insurance is a social insurance system established by the state and society according to certain laws and regulations, in order to solve the problem that workers reach the national working age limit for lifting their labor obligations or the basic life after quitting their jobs because of old age. The basic old-age insurance is based on the principle of ensuring the basic livelihood of retirees. It is mandatory, mutually beneficial and social. Its compulsion is reflected in the legislation and law enforcement of the country, and both enterprises and individuals must participate and must not violate it; Mutual assistance is reflected in the source of endowment insurance expenses, which are generally shared by the state, enterprises and individuals, and are used and paid uniformly, so that employees of enterprises can get living security and realize extensive social mutual assistance; Sociality is reflected in the great influence of endowment insurance, the large number of people enjoying it for a long time and the huge cost.

Endowment insurance is a social insurance system established by the state in accordance with relevant laws and regulations to ensure that workers reach the working age limit stipulated by the state, terminate their labor obligations or retire from their jobs because of old age. The purpose is to ensure the basic needs of the elderly through social insurance and provide them with a stable and reliable source of life.

legal ground

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

Fifth people's governments at or above the county level shall 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.