What is the payment standard of rural social security in Jiangsu Province?

Jiangsu Province has established a new rural social endowment insurance system. Rural residents who have registered in this province, have reached the age of 16 (excluding students in school) and have not participated in the basic old-age insurance for urban workers can participate in the new rural insurance at their domicile.

The new rural endowment insurance fund is mainly composed of individual contributions, collective subsidies and government subsidies. Rural residents who participate in the new rural old-age insurance shall pay the old-age insurance premium according to the regulations.

At present, the payment standard is set at 100 yuan per person per year, which is divided into six grades: 200 yuan, 300 yuan, 400 yuan, 500 yuan and 600 yuan. Encourage qualified areas to formulate higher-level payment standards.

Rural residents who have reached the age of 60 and have not enjoyed the basic old-age insurance for urban workers in this province can receive a monthly pension if they meet the conditions for receiving a pension. The minimum standard for basic pension per person per month is 60 yuan.

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Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.