2023 People's Republic of China (PRC) Endowment Insurance Regulations

First, the endowment insurance fund for urban residents is mainly composed of individual contributions and government subsidies. (1) individual payment. Urban residents who participate in the old-age insurance for urban residents shall pay the old-age insurance premium according to the regulations. At present, the payment standard is set at 100 yuan per year, 200 yuan, 300 yuan, 400 yuan, 500 yuan, 600 yuan, 700 yuan, 800 yuan, 900 yuan, 100 yuan and 10 grades. Local people's governments may add payment grades according to actual conditions. Insured people choose their own grades to pay, and pay more. According to the economic development and the growth of per capita disposable income of urban residents, the state adjusts the payment grade in a timely manner. (2) government subsidies. The government pays the basic pension for urban residents in full to the insured who meet the conditions for receiving treatment. Among them, the central government gives full subsidies to the central and western regions and 50% subsidies to the eastern regions in accordance with the basic pension standards set by the central government. The local people's government subsidizes the payment of the insured, and the subsidy standard is not less than 30 yuan per person per year; Appropriate encouragement may be given to those who choose higher-grade standard payment, and the specific standards and measures shall be determined by the people's governments of all provinces (autonomous regions and municipalities). The local people's government will pay part or all of the minimum standard old-age insurance premium for severely disabled people in cities and towns. (three) to encourage other economic organizations, social organizations and individuals to provide financial support for the insured. Second, the new rural endowment insurance policy insured: rural residents who have reached the age of 16 (excluding school students) and have not participated in the basic endowment insurance for urban workers can voluntarily participate in the new rural endowment insurance at their household registration location. Registration process: 1. Take the village (community, neighborhood Committee) as the insured unit, and the insured unit shall go through the registration formalities. When you are insured for the first time, you should fill in the Registration Form for Participating in Old-age Security (Insurance) Units; 2. Persons who meet the conditions for insurance shall bring their household registration book, original and photocopy of ID card and one-inch bareheaded photos to the labor and social security management service station in the village (including neighborhood committees and communities, the same below) for insurance. The village is responsible for the preliminary examination of the insured qualification and fill in the publicity form of the insured person of the basic old-age insurance for farmers for one week, and fill in the registration form of the insured person of the basic old-age insurance for farmers without objection (hereinafter referred to as the registration form). 3. If the insured person is a soldier or a veteran, provide a military service certificate issued by the People's Armed Forces Department, fill out the Application Form for Government Subsidy for Active-duty Soldiers of Basic Old-age Insurance for Farmers, and report it to the town (street) labor security management service office. Three. New Social Endowment Insurance Policy According to the spirit of the 18th CPC National Congress and the requirements of the Third Plenary Session of the 18th CPC Central Committee on integrating the basic old-age insurance system for urban and rural residents, according to the relevant provisions of the Social Insurance Law of People's Republic of China (PRC), and on the basis of summing up the pilot experience of the new rural social endowment insurance (hereinafter referred to as "the new rural social endowment insurance") and the urban social endowment insurance (hereinafter referred to as "the urban social endowment insurance"), the State Council decided to merge the new rural social endowment insurance and the urban social endowment insurance to establish a unified national system. After understanding the types of social endowment insurance, we might as well know more about the types of commercial endowment insurance. Commercial endowment insurance is a kind of commercial insurance with human life or body as the insurance object. When the insured retires in old age or the insurance period expires, the insurance company will pay the pension according to the contract. At present, annuity insurance, endowment insurance, term insurance and life insurance in commercial insurance can all achieve the purpose of providing for the aged, and they all belong to the category of commercial endowment insurance. Commercial endowment insurance is a long-term personal insurance with the main purpose of obtaining pension. It is a special form of annuity insurance, also known as endowment insurance, and a supplement to social endowment insurance.