The participation rate of China's basic old-age insurance during the 14 th Five-Year Plan period

The participation rate of basic old-age insurance reached 95%, and the number of people participating in unemployment insurance and industrial injury insurance reached 230 million and 280 million respectively.

The six key tasks in the development of human and social undertakings during the "14th Five-Year Plan" period include: promoting more adequate and higher-quality employment, improving the multi-level social security system, stimulating the innovation vitality of talents, deepening the reform of wage and income distribution system in enterprises and institutions, building harmonious labor relations, and improving the ability and quality of basic public services.

During the "Fourteenth Five-Year Plan" period, according to the principle of caring for insurance and voluntary participation, the full coverage of statutory insured personnel will be basically realized. Considering the large base of insured persons, a few people voluntarily choose not to participate in the insurance. It is estimated that the participation rate of basic old-age insurance will reach 95% in 2025.

The multi-level social security system is more perfect. Statutory personnel should try their best to co-ordinate the basic old-age insurance for enterprise employees nationwide, unemployment insurance at the provincial level and industrial injury insurance at the provincial level. The level of social security benefits has been steadily improved, and the fund has operated safely and smoothly. The participation rate of basic old-age insurance reached 95%, and the number of people participating in unemployment insurance and industrial injury insurance reached 230 million and 280 million respectively. The coverage of supplementary old-age insurance has been expanding, and the scale of supplementary old-age insurance fund has exceeded 4 trillion yuan. The total investment entrusted by the basic endowment insurance fund for urban and rural residents exceeds 400 billion yuan.

Legal basis:

People's Republic of China (PRC) 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.