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What does the social security coefficient mean?

The social security payment base is 60%-300% of the average social wage. For example, the average social wage 1000 yuan, and the payment base can be 600 yuan-3,000 yuan. Take the situation in Shanghai in 2004 as an example. In 2003, the average monthly social wage was 1847 yuan.

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