Will social security raise prices again in 2023?

The price increase of social security in 2023 was due to the increase of the minimum wage, which led to an increase in the social security base.

In 2023, social insurance rates in some areas were raised, which caused a lot of concern. The main reason for this adjustment is that the country has raised the minimum wage standard, and the social security payment base is linked to the minimum wage standard, resulting in an increase in the social security base. In addition, with the aging of the population, the social insurance expenditure has increased year by year, and the increase in the number of participants has also put pressure on the social security fund. Therefore, raising the social security rate is also a means to deal with financial pressure. In addition, it should be noted that the specific implementation of social security rates in different regions may be different, depending on local actual policies.

Does the increase in social security premiums mean that social security benefits will also increase? A: The increase in social security premiums does not necessarily mean that social security benefits will also increase. The improvement of social security benefits needs to consider many factors, including the income and expenditure of social security funds and policy adjustment. Although raising the social security rate can increase the income of the social security fund, if the balance of income and expenditure of the social security fund is not improved, the improvement of treatment may also be affected.

The increase in social security prices in 2023 was mainly due to the increase in the minimum wage, which led to an increase in the social security base. The specific implementation of social security rates in different regions may be different, so it is necessary to pay attention to local policies and regulations. The adjustment of social security rate needs to go through strict procedures, and the specific implementation plan will be formulated and adjusted by local social insurance agencies and labor security administrative departments, and implemented after approval.

Legal basis:

People's Republic of China (PRC) Social Insurance Law 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 and interests 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.