What is the difference between the payment grades of endowment insurance?

The payment grade of endowment insurance has the following differences:

1. The only difference between different grades of rural social security contributions is that different grades of social security are selected, and the amount of old-age insurance received each year is different;

2. Rural social security is mainly divided into 12 grades, with a minimum of 100 yuan per year and a maximum of several thousand yuan;

3. Because the overall economic strength of different regions is different, the subsidy of rural endowment insurance policy is also different.

Endowment insurance has the following benefits:

1. Old-age insurance is conducive to ensuring the reproduction of labor. The establishment of the old-age insurance system is conducive to the normal intergenerational replacement of the labor force, the retirement of the elderly, the smooth employment of the newly growing labor force and the rationalization of the employment structure;

2. Endowment insurance is beneficial to social security. Endowment insurance provides basic living security for the elderly and makes them feel safe. With the arrival of the aging population, the proportion of the elderly population is increasing and the number is increasing. Old-age insurance guarantees the basic life of elderly workers, which is equivalent to ensuring the basic life of a considerable number of people in society. For on-the-job employees, participating in endowment insurance means that they have expectations for their future old-age life and are free from worries. In terms of social mentality, more people are stable and less impetuous, which is conducive to social stability;

3. Endowment insurance is conducive to promoting economic development. Most old-age insurance systems link fairness with efficiency, especially in the mode of partial accumulation and complete accumulation. The amount of pension a worker receives after retirement is directly related to his wage income and payment during his working period.

To sum up, the grade differences of endowment insurance are as follows: the amount of social security payment is different in different files. The higher the payment base, the higher the personal account balance and the higher the interest income. Plus the basic pension, because the basic pension is calculated according to the average social wage plus the average payment index wage over the years, the higher the average payment base, the higher the average, the greater the proportion of the average social wage, and the more pensions you receive.

Legal basis:

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

Article 10

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium. 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. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Article 11

The basic old-age insurance combines social pooling with individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.