What does the basic old-age insurance for employees in urban enterprises mean?

The basic old-age insurance for employees is a kind of social insurance. Mainly divided into unit payment and individual payment:

1, the employer shall pay the basic old-age insurance premium in proportion to the total wages of its employees as stipulated by the state, and record it in the basic old-age insurance pooling fund. The proportion of enterprise contributions shall generally not exceed 20% of the total wages of enterprises, and the specific proportion shall be determined by the governments of provinces, autonomous regions and municipalities directly under the Central Government. A few provinces, autonomous regions and municipalities directly under the Central Government have a large number of retirees and a heavy burden of old-age insurance. If it is really necessary to exceed 20% of the total wages of enterprises, it shall be reported to Ministry of Human Resources and Social Security and the Ministry of Finance for approval;

2. From June 65438+1 October12006, the scale of personal account was adjusted from 165438+ 0% of my salary to 8%, all of which was formed by individual contributions, and the unit contributions were no longer included in personal accounts. Among them, the payment wage is also called the payment wage base, which is generally the average monthly wage of employees in the previous year (where conditions permit, the salary income of employees in the previous month can also be used as the personal payment wage base). The average monthly salary is calculated according to the items listed in the statistics of total wages stipulated by the National Bureau of Statistics, including wages, bonuses, allowances, subsidies and other income, excluding social insurance premiums, labor protection fees, welfare fees, one-time compensation paid by employers and employees when they terminate their labor relations, family planning fees and other expenses that do not belong to wages.

People's Republic of China (PRC) Social Insurance Law Article 1 This Law is formulated in accordance with the Constitution for the purpose of regulating social insurance relations, safeguarding citizens' legitimate rights and interests in participating in social insurance and enjoying social insurance benefits, enabling citizens to share the fruits of development and promoting social harmony and stability.

Tenth employees should participate in the basic old-age insurance, the basic old-age insurance premiums paid by the employer and employees.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

Sixteenth individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.