How many hundred million people are covered by basic old-age insurance?

The number of people participating in the basic old-age insurance is 982 million, covering a wide range.

The basic old-age insurance is an important part of China's social security system, which aims to provide basic old-age security for retired and resigned people. With the acceleration of China's population aging process, the coverage and security level of basic old-age insurance are constantly improving and improving to better meet the needs of the elderly. At the same time, we should further strengthen the management and operation of the basic old-age insurance, ensure the safety and quality of the fund, and better provide services and benefits for the insured.

The payment conditions of endowment insurance include:

1. Age conditions: In general, employees who need to participate in endowment insurance 16 years old and above, retirees 60 years old and above;

2. Eligibility: Endowment insurance is applicable to employees of enterprises, staff of government agencies and institutions, urban residents and rural residents. Among them, employees of enterprises and staff of government agencies and institutions are generally remitted by the unit; Urban residents and rural residents need to pay their own fees or be subsidized by the government;

3. Payment conditions: the insured shall pay the endowment insurance premium according to the regulations, and the payment standard and payment base shall be formulated by the local social insurance department according to the relevant national and local regulations. Specific payment methods include monthly payment, quarterly payment, semi-annual payment or annual payment.

To sum up, the old-age insurance system and specific payment situation of different regions and different insured people may be different, and the specific situation should be consulted with the local social insurance department or relevant staff.

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. Safeguard citizens' right to get material help from the state and society in accordance with the law in old age, illness, work injury, unemployment and childbirth.