Beijing personal social security increased money

Social security contributions are equal to the contribution base multiplied by the contribution ratio. And the minimum contribution base for social security is 40% of the average social wage, and the maximum is 300% of the social level. In other words, as long as the average social wage goes up, the cost of social security will go up.

Let's take Beijing as an example, in 2006 the average social high wage in Beijing was only 3008 yuan. By 2016 Beijing's average social wage had reached 7,706 yuan. During the period has maintained a strong increase of about 10% of the ratio. And the minimum social security contributions linked to it are also surging with it.

While it has been advocated to reduce the social security fees, the little reduction is not even comparable to the rise in the average social wage.

So it's safe to say that social security costs will go up again in 2018.

What has to be mentioned here is the disadvantage of linking social security contributions to the average social wage, if you want to enjoy all the benefits of social security, you have to make minimum contributions. For low-income earners, the greater the gap between their income and the minimum contribution base, the heavier the social security costs they have to bear, and the less money they have left in their hands. Although the pension insurance more contributions, but the emergence of a large part of the income paid social security, obviously against the intention of social security.

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