How to pay endowment insurance

The method of paying endowment insurance is as follows:

1, the unit pays, mainly urban workers, and their units must purchase endowment insurance for them, and the premium shall be borne by both units and individuals. How much the unit gives depends on many factors, such as local social wages and the grade chosen by the unit. The Social Security Bureau has set the minimum grade and the maximum grade. The lowest grade shall not be less than 60% of the average monthly salary of social workers, and the highest grade shall not be less than 300% of the average monthly salary of employees.

2, individual contributions, you can buy your own pension insurance. That is, the endowment insurance for urban workers, which is paid according to the status of flexible employees, and individuals should bear the premiums of both units and individuals. Migrant workers who don't have a work unit should bring the original account and ID card, and the social security bureau in which district should handle the account. You can also choose to apply for residents' medical insurance, handle it in the same area as the old-age insurance, and participate in the "payment window for migrant workers" set up by the social insurance agency in this city. The specific payment standard can be selected with reference to the annual standard for individual industrial and commercial households and migrant workers to pay basic old-age insurance premiums. Old-age insurance premiums are collected by the post office. Pay on time every month. If the payment is made quarterly or annually, it should be deposited in advance, and the payment will be stopped if it is not paid for half a year, and the payment can not be continued until the social security department completes the formalities;

3. You can also pay the old-age insurance for urban and rural residents and participate in the insurance at the domicile.

Information required for individual endowment insurance payment:

1, Application Form for Flexible Employment to Participate in Basic Endowment Insurance in duplicate;

2. A copy of the first page of the USW personal current passbook opened by the applicant in any of the four state-owned commercial banks: Bank of China, Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China;

3, "the entrusted bank social insurance fund automatic settlement authorization" in duplicate;

4. The original and photocopy of the applicant's household registration book.

To sum up, there is a fixed minimum age for pension payment. If you can't reach it, you can pay it in one lump sum.

Legal basis:

Article 70 of the Labor Law of People's Republic of China (PRC)

The state develops social insurance, establishes social insurance system and social insurance fund, so that workers can get help and compensation in old age, illness, work injury, unemployment and childbirth.

Article 72

The social insurance fund shall determine the source of funds according to the types of insurance and gradually implement social pooling. Employers and workers must participate in social insurance and pay social insurance premiums according to law.

Article 75

The state encourages employers to establish supplementary insurance for workers according to actual conditions.