Proportion of individual and unit contributions to basic endowment insurance in Fuzhou

What is the proportion of individual and unit contributions to the basic old-age insurance in Fuzhou?

The individual contribution rate of Fuzhou basic old-age insurance is 8%, and the unit contribution rate is 16%.

The proportion of basic old-age insurance payment in Fuzhou is divided into individual contribution ratio and unit contribution ratio. According to the regulations of Fuzhou Human Resources and Social Security Bureau, the individual contribution ratio is 8%, and the unit contribution ratio is 16%. This is the regular payment ratio of the basic old-age insurance in Fuzhou.

In Fuzhou's old-age insurance system, the proportion of individual and unit contributions is an important part. Individual contributions shall be borne by individuals, and 8% of wages paid shall go into individual accounts, while enterprise contributions shall be borne by enterprises, and 16% of wages paid shall go into social pooling accounts. These two accounts operate in different ways and have different sources of funds, but they are both designed to protect the pension rights after retirement.

The more money accumulated in personal accounts, the higher the pension benefits after retirement in the future. The funds in the social pooling account are used to pay the pension benefits and subsidies of the current retirees. Therefore, the contribution ratio of individuals and units is interdependent, which jointly maintains the stability and sustainable development of the old-age insurance system in Fuzhou.

To sum up:

The proportion of individual and unit contributions to the basic old-age insurance in Fuzhou is 8% and 16% respectively. These two ratios are an important part of maintaining the stability and sustainable development of the endowment insurance system in Fuzhou. Through the joint efforts of individuals and units, we will protect the rights and interests of the elderly after retirement and provide stable old-age security for the elderly.

Legal basis:

Article 12 of the Social Insurance Law of People's Republic of China (PRC) stipulates: "Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer 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 account respectively." Article 60 stipulates: "The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state and record it in the basic old-age insurance pooling fund."