Who will pay for the pension?

Pensions are issued by the Social Security Bureau, and the specific contents are as follows:

1. Socialized payment of basic pension means that after employees participate in basic old-age insurance according to regulations and pay the basic old-age insurance premium to the social insurance agency in full, the basic pension payment of retirees in their units will also be transferred to the society, that is, the social insurance agency will be responsible for the basic pension payment to retirees who meet the basic old-age insurance benefits through banks, post offices and relying on community and other intermediaries; Participate in social endowment insurance and receive retirement pension from the bank entrusted by the local social insurance agency;

2. The administrative department of social insurance in the State Council is responsible for the management of social insurance throughout the country, and other relevant departments in the State Council are responsible for the relevant social insurance work within their respective functions and duties. The social insurance administrative department of the local people's government at or above the county level shall be responsible for the social insurance management within its administrative area, and other relevant departments of the local people's government at or above the county level shall be responsible for the relevant social insurance work within their respective functions and duties.

Legal basis: Article 10 of the Social Insurance Law of People's Republic of China (PRC).

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Article 11

The basic old-age insurance combines social pooling with individual accounts.

The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.