Social Security for Locals and Foreigners

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Foreigners pay social security and locals pay social security retirement wages, which is just the difference between foreigners and locals. If the other contents are the same, they all receive the old-age insurance money at the place of payment after retirement, then the old-age insurance money they receive is the same. If other conditions are different, then the corresponding pension insurance is different.

Social insurance law

Fifteenth basic pension consists of overall pension and individual account pension.

The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

Sixteenth individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.

Seventeenth individuals who participate in the basic old-age insurance, due to illness or non-work-related death, their survivors can receive funeral grants and pensions; Persons who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance. The required funds are paid from the basic old-age insurance fund.

Article 18 The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.

Nineteenth individuals across the overall regional employment, the basic old-age insurance relationship with my transfer, the cumulative payment period. When an individual reaches the statutory retirement age, the basic pension is calculated in stages and distributed uniformly. Specific measures shall be formulated by the State Council.

Article 20 The state establishes and improves a new rural social endowment insurance system.

The new rural social endowment insurance combines individual contributions, collective subsidies and government subsidies.