Jieyang rural social security contributions

Before 2020, the new rural insurance to be universal in the country, the specific policy is as follows: fund mobilization of the new rural insurance fund consists of individual contributions, collective subsidies, government subsidies.

(a) Individual contributions. Rural residents participating in the new rural insurance should pay the required pension insurance premiums. Contribution standards are currently set at 100 yuan per year, 200 yuan, 300 yuan, 400 yuan, 500 yuan five grades, the localities can be based on the actual situation of additional contribution grade. Participants independently choose the level of contribution, and the more they pay, the more they get. The State will adjust the contribution levels in due course according to the growth of the per capita net income of rural residents.

(ii) collective subsidies. The conditions of the village collective should be subsidized for participants to pay, the subsidy standard by the villagers' committee held a villagers' meeting to determine the democratic. Encourage other economic organizations, social welfare organizations, individuals to provide financial support for participants' contributions. (c) Government subsidies. The government shall pay the full amount of the basic pension of the new rural insurance to the participants who meet the conditions for receiving it, of which the central government shall give full subsidies to the central and western regions in accordance with the standard of the basic pension determined by the central government, and shall give 50% subsidies to the eastern regions. The local government shall subsidize the contributions of the participants, with a subsidy standard of not less than 30 yuan per person per year; appropriate incentives may be given to those who choose to pay the contributions at a higher level of standard, with the specific standards and methods to be determined by the people's governments of the provinces (autonomous regions and municipalities).

For groups with difficulties in paying contributions, such as the severely disabled in rural areas, local governments pay part or all of the minimum standard pension insurance premiums on their behalf. Establishment of Individual AccountsThe state establishes an individual pension insurance account with a lifelong record for each new rural insurance participant. Individual contributions, collective subsidies and other financial support from economic organizations, social welfare organizations and individuals for participants' contributions, as well as local government subsidies for participants' contributions, are all credited to the individual account. Individual account reserves currently accrue interest annually with reference to the one-year RMB deposit rate for financial institutions published by the People's Bank of China.

Pension benefitsThe pension benefits consist of a basic pension and an individual account pension, paid for life. The basic pension standard set by the central government is 55 yuan per person per month. Local governments can raise the standard of the basic pension according to the actual situation, and for rural residents who have been paying contributions for a long time, the basic pension can be increased appropriately, and the funds for the increase and the increased portion of the pension will be spent by the local government. The monthly standard for the individual account pension is the full amount of storage in the individual account divided by 139 (the same coefficient as the current urban workers' basic pension insurance individual account pension calculation). When a participant dies, the balance of funds in the individual account, except for government subsidies, can be inherited in accordance with the law; the balance of government subsidies is used to continue paying pensions to other participants. Pension entitlement conditions Elderly people with household registration in rural areas who have reached the age of 60 and are not entitled to basic old-age pension insurance for urban workers can receive a monthly pension. At the time of the implementation of the new rural insurance system, those who have reached the age of 60 and are not entitled to basic pension insurance for urban workers do not need to make contributions and can receive a basic pension on a monthly basis, but their children who are eligible to participate in the insurance system should participate in the insurance and make contributions; those who are less than 15 years from the age of receiving the insurance should make contributions on an annual basis, or they are allowed to make retroactive contributions, with the cumulative contribution not exceeding 15 years; those who are more than 15 years from the age of receiving the insurance should make contributions on an annual basis, with the cumulative contribution being not less than 15 years. Young and middle-aged farmers should be guided to actively participate in the insurance program, make long-term contributions, and receive more benefits for longer contributions. Specific measures shall be stipulated by the people's governments of provinces (autonomous regions and municipalities). Treatment adjustment of the state in accordance with economic development and price changes, etc., timely adjustment of the national new rural insurance basic pension minimum standard.

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