What is the proportion of the old-age insurance paid by the factory?

Generally, the proportion of endowment insurance paid by the factory is 20% for the unit and 8% for the employee, and the proportion of personal account is 1 1%, which is paid by the employee's unit. The renewal insurance premium for flexible employees shall be paid at the rate of 20% of the social wages of this Municipality in the previous year, which is the same as the insurance premium paid by individual industrial and commercial households.

Benefits of factory insurance:

1. If the insured loses People's Republic of China (PRC) nationality, it shall apply in writing to terminate the pension insurance relationship.

2. Foreigners, employees who have obtained permanent residency abroad and come to Shanghai from Taiwan, Hong Kong and Macao, can apply to terminate the pension insurance relationship with the employer in this city and leave the country after being insured.

3. If the city reaches the statutory retirement age after participating in the basic old-age insurance for employees, and the accumulated payment is less than 15 years, and has not been transferred to the old-age insurance for urban and rural residents, individuals may apply in writing to terminate the basic old-age insurance for employees.

After the enterprise participates in social security for employees, employees can get material help and compensation from the state and society in cases of illness, work injury, unemployment, maternity and retirement, which increases employees' satisfaction and sense of belonging to the enterprise and protects their legitimate rights and interests.

To sum up, the old-age insurance paid by the factory is generally 20% by the company and 8% by the employees, and the personal account 1 1% is paid by the employees' unit.

legal ground

People's Republic of China (PRC) social insurance law

first

The overall pension stipulated in Article 15 of the Social Insurance Law shall be calculated and paid according to the basic pension calculation and payment method stipulated by the State Council.

second

When individuals who participate in the basic old-age insurance for employees reach the statutory retirement age, if the accumulated payment is less than fifteen years, the payment may be extended to fifteen years. After the implementation of the Social Insurance Law, if the payment is extended for five years but still less than fifteen years, it can be paid in one lump sum for fifteen years.

essay

Individuals who participate in the basic old-age insurance for employees who have paid less than 15 years after reaching the statutory retirement age can apply for the new rural social endowment insurance or urban social endowment insurance where their household registration is located and enjoy the corresponding old-age insurance benefits. Individuals who participate in the basic old-age insurance for employees have paid less than fifteen years after reaching the statutory retirement age and have not been transferred to the new rural social endowment insurance or urban residents' social endowment insurance. Individuals can apply in writing to terminate the basic old-age insurance relationship for employees. After receiving the application, the social insurance agency shall inform it in writing of its right to transfer to the new rural social endowment insurance or urban residents' social endowment insurance and the consequences of terminating the basic endowment insurance relationship for employees. After my written confirmation, I will terminate the employee's basic old-age insurance relationship and pay me the amount stored in my personal account in one lump sum.