The National Grid pension payment ratio is 300 percent?

According to the provisions of the Social Security Law, the employee's pension insurance is paid by the employer and the individual employee in proportion to the employer's unit, where the employer is in accordance with the previous year's total wages of the unit's employees as the contribution base, the individual employee is in accordance with his actual salary as a contribution. When the actual salary of the employee is lower than 60% of the average monthly salary of the employee in the previous year, only 60% of the average monthly salary of the employee in the previous year can be used as the contribution base; when the actual salary of the employee is higher than 300% of the average monthly salary of the employee in the previous year, only 300% of the average monthly salary of the employee in the previous year can be used as the contribution base, and the part of the average monthly salary of the employee that is higher than 300% will not be counted as the contribution base.

Usually, we call the 60% contribution as the lower limit of the contribution base, and the 300% contribution as the upper limit of the contribution base, the upper limit and the lower limit of the base, is what we call the social security contribution base of the "low limit high" principle. This principle is not only reflected in the pension insurance contribution base, but also in the medical insurance, unemployment insurance, maternity insurance and industrial injury insurance contribution base.