20 16 pension insurance unit payment ratio

The unit pays endowment insurance according to 20% of the total average monthly salary of employees in the previous year, and the individual pays 8% of the average monthly salary in the previous year. According to the law, employees should participate in the basic old-age insurance, which is jointly paid by the employer and employees. The unit is responsible for the insurance, and the individual part is withheld and remitted.

Legal objectivity:

Article 12 of the Social Insurance Law

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.