Shijiazhuang pension insurance contribution base

Shijiazhuang pension insurance contribution base is charged on a monthly basis, with the minimum being the social minimum wage, which is currently 2,360 yuan per month. Units and individuals are each required to pay 16% of the premium, ****32%. However, there are upper and lower limits for the individual contribution portion.

Shijiazhuang's pension insurance is based on a contribution base system, which means that monthly social insurance contributions are determined according to the participants' salary income. The contribution base is generally based on the local average social wage level, on which a minimum contribution base and a maximum contribution base are set. Currently, the minimum contribution base for pension insurance in Shijiazhuang City is the local social minimum wage, i.e. 2,360 yuan per month. The maximum contribution base is three times the local average social wage, which is currently 10,854 yuan/month. According to the regulations, the unit and the individual are each required to bear 16% of the pension insurance costs,*** totaling 32%. Among them, the unit should allocate 16% of the social insurance fees it pays as the accumulated reserves in the individual account; while the portion paid by the individual is allocated to the individual account and the basic pension insurance pool fund respectively. It should be noted that there are upper and lower limits for the individual contribution portion. Specifically, the minimum individual contribution is 60% of the local social minimum wage, i.e. 1,416 RMB/month, while the maximum is three times the local average social wage. In short, the pension insurance contribution base system in Shijiazhuang is monthly and based on the participants' salary income, with a contribution rate of 32%, but with upper and lower limits for the individual contribution portion.

Is the base for the unit's and individual's respective pension insurance contributions the same? No, they are not. According to the regulations, the unit and the individual each need to pay 16% of the pension insurance premiums, but the base of their contributions is different. Units should determine the contribution base according to the total salary of employees in the previous year, while individuals should determine the contribution base according to their own salary income. There are upper and lower limits to the base for individual contributions, with the minimum being 60 percent of the local social minimum wage and the maximum being three times the local average social wage.

Pension insurance is an important social security system, Shijiazhuang City, the pension insurance contribution base system is monthly and based on the participant's salary income. Participants and employers are required to pay the appropriate pension insurance premiums according to the regulations to ensure their pension protection rights and interests.

Legal basis:

Article 19 of the Law of the People's Republic of China on Pension Insurance Article 19 of the Law of the People's Republic of China on Pension Insurance provides that the contribution base for pension insurance shall be divided into a minimum contribution base and a maximum contribution base. The minimum contribution base is 60% of the local average social wage; the maximum contribution base is three times the local average social wage.