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What does the basic old-age insurance in China include?
Legal analysis: Basic old-age insurance includes overall pension and personal account pension.
Legal basis: Article 15 of the Social Insurance Law of People's Republic of China (PRC) consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.
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