The contribution ratio of the endowment insurance company is 16%. Employers pay basic old-age insurance premiums for employees, and the contribution rate of old-age insurance units in all provinces, autonomous regions, municipalities directly under the Central Government and Xinjiang Production and Construction Corps is higher than 16%, which can be reduced to 16%.

Legal objectivity:

Article 10 of the Social Insurance Law of People's Republic of China (PRC) * * * Employees shall participate in the basic old-age insurance, and both employers and employees shall pay the basic old-age insurance premium. 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 can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.