What does 50% social security mean?

Half pension insurance. For the old-age insurance paid according to the payment standard stipulated by the state in the first half of the year, the old-age insurance payment is generally calculated according to the average wage of the local society. For example, the annual salary of local social commentary is 65,438+10,000 yuan, and the 28% payment according to the national regulations should be 28,000 yuan a year, which is 100%. If the payment is 14000, it is 50.