Legal Analysis: According to the Measures for the Administration of Investment in Basic Endowment Insurance Funds, the proportion of investment in stocks, stock funds, mixed funds and stock-based pension products shall not exceed 30% of the net asset value of pension funds. Pension has obvious long-term investment preference, stable investment pursuit and low risk preference, and generally chooses blue-chip stocks and large-cap stocks with low valuation.

Legal basis: People's Republic of China (PRC) Social Insurance Law.

Tenth employees should participate in the basic old-age insurance, and employers and employees should 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.

Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premium should be paid by the government during the payment period.

When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.

Article 18 The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.