The contribution ratio of employee's basic old-age insurance is: the enterprise where the employee works pays 20%, and the individual employee bears 8%. Previously, it was stipulated that 20% of the unit and 8% of the individual were all included in the personal account. Now it is no longer included in the unit payment, but only 8% paid by individuals is included in the personal account.

201710/8, Xi Jinping pointed out in the report of the 19th National Congress that the basic old-age insurance system for urban workers should be improved. From June to July, 20 19, the national basic endowment insurance fund for enterprise employees earned 2.2 trillion yuan, spent about 2 trillion yuan, and had a balance of more than 200 billion yuan, with a cumulative balance of about 5 trillion yuan.

Extended information Those who participate in the social co-ordination of the basic old-age insurance for urban enterprise employees in this city will be paid a monthly basic pension when they reach the retirement age stipulated by the state and the actual payment period (including deemed payment period, the same below) reaches 15 years. According to the latest pension calculation method, employees' pension consists of two parts:

Pension = basic pension+personal account pension

Personal account pension = personal account storage amount ÷ calculation months (50 years old 195, 55 years old 170, 60 years old 139, no longer unified as 120) basic pension = (average monthly salary of employees in the whole province+average monthly payment salary of myself in last year)

Note: My indexed monthly average payment salary = last year's average monthly salary of employees in the whole province × my average payment index.

As can be seen from the above formula, under the same payment period, the level of basic pension depends on the average payment index of an individual, that is, the historical average of the ratio of his actual payment base to the average social wage.

The lower limit is 0.6 and the upper limit is 3. Therefore, in the two kinds of calculation of pension, no matter what the situation, the higher the payment base and the longer the payment period, the higher the pension. Pensions are fixed indefinitely. As long as the recipient is alive, he can enjoy a monthly pension. Even if the personal account pension has been used up, he will continue to pay according to the original standard.

Baidu encyclopedia-basic endowment insurance for employees