Is a higher contribution base for Social Security better?

Not necessarily. Higher contributions do not necessarily mean better. Although in the long run, a higher contribution base means a higher balance in our personal pension accounts and health insurance accounts, the higher the contribution base, the higher the balance in our personal pension accounts and health insurance accounts, the higher the balance in our personal pension accounts and health insurance accounts. However, from the point of view of the current personal wages, the increase in the base of social security contributions, the amount of social security contributions per month will also increase, then the wages will be less, for the urgent need of cash for the workers, not the higher the base of social security contributions is the better.

The higher the base for social security contributions, the better it is for personal pensions. The reason is that when the contribution base is increased, the more money will be accumulated in the personal pension account, the more pension will be received when the employee retires, and the higher the protection for the personal pension life.

In addition, the increase in the social security contribution base also has a positive impact on the accumulation of the balance of the individual health insurance account, whether it is to go to the hospital or to the pharmacy to buy drugs, when the balance of the individual health insurance account increases, then the reimbursement of money has become more.

If an employee's expectation is to have a current salary in hand, the more money he or she hopes to spend on current day-to-day consumption and financial management, the increase in the social security contribution base will not meet the employee's needs; however, if he or she expects to have a more secure retirement life in the future, then the increase in the social security contribution base will naturally be a good thing. For flexible employees who can choose their own social security contribution level, they can choose their own contribution level according to their actual situation. In terms of Hubei 2021 flexible employment personnel contribution grade, the basic pension insurance minimum monthly payment of 748 yuan, the highest monthly payment of 3739.8 yuan; and the basic medical insurance did not 373.98 yuan.