What does 60% social security mean?

Legal analysis: it refers to 60% and 3 times of the average social wage, which involves the payment base of endowment insurance. The minimum base for enterprise employees to pay endowment insurance shall not be less than 60%, and the maximum shall not be higher than three times the social average.

Legal basis: Article 18 of the Social Insurance Law of People's Republic of China (PRC) established the normal adjustment mechanism of the basic pension. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.