The basic old-age insurance premium is shared by enterprises and individual employees: enterprises pay a certain proportion of the total average monthly salary of employees in the previous year (19% in Beijing, which may be different in other cities), and individual employees pay a certain proportion of the average monthly salary of employees in the previous year (generally 8%).

Urban individual industrial and commercial households, flexible employees and laid-off workers from state-owned enterprises who participate in the basic old-age insurance in their personal capacity shall pay the basic old-age insurance premium at a rate of 20% based on the average social wage in the province where they are located, and all of them shall be borne by themselves.

Extended data:

Those who participate in the basic old-age insurance for employees can pay less than 15 years when they reach the statutory retirement age, and the payment can be extended to 15 years. If the insured before the implementation of the Social Insurance Law and the extension of payment is less than 15 years after 5 years, it can be paid to 15 years in one lump sum.

For those who do not continue to pay after the deferred payment or the accumulated payment period is still less than 15 years, they can apply to transfer to the new rural social endowment insurance or urban residents' social endowment insurance and enjoy the corresponding pension insurance benefits. Unwilling to extend the payment to 15 years or transfer to the new rural social endowment insurance or urban residents' social endowment insurance, you can apply for a one-time payment of personal account storage.

Baidu encyclopedia-endowment insurance