Lanzhou pays individual endowment insurance.

Lanzhou pays individual endowment insurance and goes to the Social Security Bureau to handle it. The payment amount shall be paid according to the local published payment base. It is uncertain how much it will cost until retirement age. Minimum payment 15 years.

The individual's right to receive a pension is linked to the obligation to pay, that is, the individual's contribution is the premise of receiving a pension, and the pension level is linked to personal income. The basic pension is calculated according to the indexation of the average monthly salary of employees before retirement and the replacement rate of different grades, and is automatically adjusted regularly.

In addition to the basic old-age pension, the state also encourages enterprises to implement supplementary old-age insurance through preferential policies such as taxation and interest, and basically implements a multi-level old-age insurance system.

Urban individual industrial and commercial households, flexible employees and laid-off workers from state-owned enterprises who participate in the basic old-age insurance in their personal capacity shall pay the basic old-age insurance premium at a rate of 20% based on the average social wage in the province where they are located, and all of them shall be borne by themselves.

Extended data:

The proportion of endowment insurance payment for flexible employees is 20%, of which 12% is credited to the overall fund and 8% is credited to the personal account. In 20 19, the payment base of endowment insurance premium for flexible employees in Lanzhou is calculated according to the social average wage of employees in urban non-private units in Lanzhou in 20 17: there are four payment grades: 70%, 80%, 90% and 100%, and the insured can choose one of them.

Urban individual industrial and commercial households, flexible employees and laid-off workers from state-owned enterprises who participate in the basic old-age insurance in their personal capacity shall pay the basic old-age insurance premium at a rate of 20% based on the average social wage in the province where they are located, and all of them shall be borne by themselves.

Baidu encyclopedia-endowment insurance

People's Network-Lanzhou flexible employees pay endowment insurance in four grades.