What does 60% social security mean?

This refers to the minimum level of endowment insurance paid by enterprises for employees.

When paying endowment insurance, the payment base chosen by the company cannot be lower than 60% of this social level. Social security grades are generally divided into three grades: 60%, 80% and 100%, and some places are divided into the lowest grade of 40%, the first grade of 60%, the second grade of 80% and the third grade of 100%. The specific payment grade is related to personal occupation and income.

Generally speaking, the higher the level of social security contributions, the more pensions you will receive in the future, which means that the more you pay, the more you will receive. Of course, the amount of pension you receive is also related to the number of years you have paid social security.