What is the amount of "basic pension" in social security?

The basic pension is a part of the basic pension.

Generally speaking, the benefits we get from participating in endowment insurance are called basic pensions. Basic pension consists of basic pension and personal account pension.

But what we need to know is that there are two kinds of social endowment insurance in China: basic endowment insurance for employees and endowment insurance for urban and rural residents.

(1) The basic pension of employee pension insurance is determined by Document No.38 issued by the State Council in 2005. The popular saying is:

Pay 1% every full year based on the average monthly salary of local employees in the previous year and the original indexed monthly average salary.

The specific calculation may be more complicated. Simply put, if you pay 12 months according to the base of 60%, you can get 0.8% more social average salary in the last year of retirement. Every time the payment level is raised, it will increase by a certain percentage. If the contribution 100% is 12 months, the basic pension is 1% of the social average wage. If it is 300%, you can only receive 2% of the average social wage.

The basic pension for employees mainly reflects overpayment and overpayment, and is also linked to social wages, which has a very strong ability to preserve and increase value.

(2) The basic pension for urban and rural residents' old-age insurance is subsidized by the state.

State subsidies are divided into two levels, central financial subsidies and local financial subsidies. The central financial subsidies are full subsidies in the central and western regions and half subsidies in the eastern regions. This is the responsibility sharing mechanism.

At present, the minimum standard of basic pension subsidized by the central government is 93 yuan per month. But many places have exceeded the national standard. For example, Shandong Province monthly 150 yuan, Jiangsu Province from this year's 1 monthly 187 yuan, 850 yuan and Shanghai monthly 1200 yuan.

In fact, the standard of endowment insurance for urban and rural residents is determined by provinces, prefecture-level cities and even counties. Or formulate measures for the treatment of old-age insurance for local urban and rural residents.

According to the requirements of national unification, local basic pensions should also give preferential care to the elderly over 65 years old and those whose payment period exceeds 15 years. However, the specific standards are not uniform, and they are all determined by the localities themselves.

Therefore, the formulation of the basic pension is actually very complicated, and there is no unified statement.