What does social security 100% mean?

The social security 100% file is based on 100% of the local average salary in the previous year. Suitable for people with high income and heavy social security payment burden.

According to national regulations, the upper and lower limits of the social security payment base should be based on the average salary of employees in full-caliber urban units in the local area in the previous year. For example, Shanghai's full-caliber social wage this year is 12 183 yuan, and the upper and lower limits of the old-age insurance payment base are 73 10 yuan to 36,549 yuan. Pay 12 183 yuan according to the grade of 100%. However, the use time of the upper and lower limits of the payment base is from July 2023 1 to June 30, 2024 (Shanghai preferential regulations).

The difference between 60% social security payment and 100% is

1, the payment base is different. One is to pay 60% of the average social wage, and the other is to pay 100%. The payment base directly determines the amount of pension.

2. Retirement salary is different. Pension is related to the local social wage, payment base and payment time before retirement, and the payment base of 1 00% is high. Long payment time and large pension.

3. The fees paid are different. People choose 60% gear and 100% gear under different pressures, and the lowest gear shall not be less than 60% of the average monthly salary of social workers. Paying 60% is relatively small.

To sum up, paying at the level of 100% means paying at the level of 100% according to the upper and lower limits of the payment base stipulated by the province in that year.

Legal basis:

People's Republic of China (PRC) social insurance law

essay

The social insurance system adheres to the principles of wide coverage, basic protection, multi-level and sustainability, and the level of social insurance should be compatible with the level of economic and social development.

Article 4

Employers and individuals in People's Republic of China (PRC) pay social insurance premiums according to law, and have the right to inquire about payment records and personal rights records, and require social insurance agencies to provide social insurance consultation and other related services.

Individuals enjoy social insurance benefits according to law and have the right to supervise the payment of their own units.