Adjust the social security payment base in July every year.

Every July, the social security payment base will be adjusted, and the upper and lower limits of the new payment base will be determined according to the social wage of the previous year. The principle of adjustment is to get the new social security payment base of the year by taking the monthly average according to the total wage income of employees in the previous year. While the social security payment base is adjusted once a year, the Social Security Bureau will also require institutions to declare and adjust the payment base according to the average salary of employees in the previous year.

Social security foundation:

The so-called social security base refers to the wage base used by enterprises or individual employees to calculate and pay social insurance premiums. Multiply this base by the corresponding rate, and you can get how much social insurance enterprises or individuals should pay.

The social security payment base will be different across the country, because the social security payment base is linked to the local average monthly salary of employees in the previous year, which is determined once a year and will not change within one year after it is determined.

For enterprises, social security fees are generally paid based on the total wages of employees, while individual employees generally pay social security fees based on the average monthly salary of the previous year.

After the new social security payment base was determined in July of that year, it was implemented from July and continued to be adjusted in June of the following year.

The latest adjustment of social security base (taking Shanghai as an example);

Last year, the average wage of employees in urban units was 124056 yuan (10338 yuan/month).

Upper limit of social security base: 3 10 14 yuan (3 times);

Lower limit of social security base: 5975 yuan;

Social security base standard: 10338 yuan;

Social security base 1.3 times: 13440 yuan;

Social security base 1.5 times: 15507 yuan;

The social security base is 2 times: 20,676 yuan.

Legal basis:

People's Republic of China (PRC) social insurance law

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.

Thirteenth employees of enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.

Article 14 Individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.

Fifteenth basic pension consists of overall pension and individual account pension.