What is the meaning of the 60% social security bracket

The meaning of the 60% bracket of social security is as follows:

The 60% bracket of social security means that 60% of the average social wage of the previous year is used as the base for individual social security contributions. For example, if the average social wage of the previous year is 10,000 yuan, then the contribution base of the 60% grade is 6,000 yuan. Individuals pay social security fees according to this base, which includes pension insurance, medical insurance, unemployment insurance and so on. Choosing a different contribution level will affect the social security benefits you will receive in the future. In general, the higher the contribution level, the more social security benefits you will receive in the future, but at the same time, the monthly social security fees you and your organization need to pay will also increase accordingly. Choosing the right contribution level requires comprehensive consideration of the individual's income level, expected social security needs and ability to pay.

Social security contribution base and grade:

1. Social security contribution base refers to the salary base used to calculate social insurance premiums, which is usually based on the average salary of the employees;

2. Social security contribution grade refers to the contribution level according to the different contribution bases, and the different grades correspond to the different amounts of contributions;

3. The 60% grade means that

3. 60% means that the contribution base is 60% of the average salary of the local workers, and the amount of contribution is calculated according to this base;

4. Different regions set different upper and lower limits for the contribution base according to the level of economic development, which affects the social security contribution grade;

5. Choosing different contribution grades affects the future social security benefits of the individual, such as the amount of pension received.

In summary, the 60% social security bracket is 60% of the average social wage of the previous year as the contribution base, which affects the social security costs and future benefits of individuals and organizations, and the choice should be based on the individual's financial situation, the need for social security and the ability to pay to ensure that it is both affordable and can obtain the appropriate protection in the future.

Legal basis:

The Social Insurance Law of the People's Republic of China

Article 12

The employer shall pay the basic pension insurance premiums in accordance with the proportion of the total wages of the employees of the unit as stipulated by the state, and credit them to the basic pension insurance fund.

Employees shall pay basic pension insurance premiums in accordance with the proportion of their own wages as prescribed by the State and credited to their individual accounts.