The influence of social security from high level to low level

The cost of low-grade social security payment is low, and the balance of funds entering personal accounts is also small. When calculating the pension in the future, the average contribution index converted into the formula will be low, resulting in less pension, while the social security retirees with high contribution ratio will receive higher pension than the low-grade social security. 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, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law in case of old age, illness, industrial injury, unemployment and maternity.