Will social security contributions increase every year?

Yes Because the average social wage increases, the payment base will also rise, which is a common phenomenon.

The main items of social insurance in China are endowment social insurance, medical social insurance, unemployment insurance, industrial injury insurance and maternity insurance, which are collectively called "five insurances". According to the Social Insurance Law, the Provisional Regulations on the Collection and Payment of Social Insurance and other relevant laws and regulations, 60% to 300% of the average social wage in the previous year is the payment base. Relevant experts said that this means that the average social wage will increase and the payment base will also rise, which is a common phenomenon.

"The statistics department generally publishes the annual statistical bulletin of the previous year in May, and then the social security department will determine the floating range of the payment base accordingly." Wei Wei, director of the Endowment Insurance Division of the Human Resources and Social Security Department of Guangxi Zhuang Autonomous Region, told the reporter that in recent years, the average social wage in Guangxi has increased by more than 10% every year, and the payment base has also increased accordingly.

Extended data:

The role of social security:

1, endowment insurance

Endowment insurance is a social insurance system in which workers get certain economic compensation, material help and services from the government and society after reaching the legal retirement age.

2. Medical insurance

The basic medical insurance system for urban employees is a social insurance system based on the affordability of finance, enterprises and individuals to ensure the basic medical needs of employees.

3. Work injury insurance

Industrial injury insurance is also called occupational injury insurance. After a worker suffers from accidental injuries due to work or occupational diseases due to exposure to occupational hazards such as dust, radiation and toxic substances, the state and society shall provide necessary material assistance to the disabled and the relatives of the deceased.

People's Daily Online-The social security payment base has increased year after year. Expert: The average social wage has increased rapidly.

Baidu encyclopedia-social insurance