The payment base follows the principle of "300% capping and 60% coverage". The part where the individual contribution wage exceeds 300% of the average wage of employees in the local area in the previous year is not included in the individual contribution wage base. If the salary is lower than 60% of the average salary of employees in this region in the previous year, the old-age insurance premium shall be paid according to 60% of the average salary.
The part paid by the unit enters the social pooling fund, and the part paid by the individual establishes a personal pension account, which is remitted monthly.
The contribution ratio of other employees' pension insurance is as follows: the contribution ratio of enterprise employees' pension insurance is generally 16% for employers and 8% for individuals. The payment benchmark requirements are the same as those of the endowment insurance of government agencies and institutions, with 300% of the average monthly salary of employees in the local area as the highest payment standard and 60% of the average monthly salary of employees in the local area as the minimum payment benchmark. If the average monthly salary is higher than the highest payment benchmark, it will be calculated and paid according to the highest payment benchmark, and if it is lower than the lowest payment benchmark, it will be calculated and paid according to the average monthly salary between the highest payment benchmark and the lowest payment benchmark.
Proportion of pension insurance payment for flexible employees: the insured who pays employee pension insurance as a flexible employee shall pay the expenses originally belonging to the employer in addition to the personal proportion. For example, in this area, the individual contribution rate of endowment insurance is 8%, the employer is 16%, and the insured person pays endowment insurance at a rate of 24% (except for overseas, most provinces pay 20%).