20 19 definition of social security replacement rate

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For example, if you retire next month, your current on-the-job income is 1000 yuan and you receive a pension of 5,000 yuan after retirement, then your pension replacement rate is 50%.

Pension replacement rate is an important basis to measure the pension benefits of a country or an individual. In developed countries, it is generally 70% to 80%, while in China, if only social security is used, the replacement rate is between 25% and 55%. The higher the payment base, the lower the replacement rate.