Urban pension insurance, also known as urban residents’ pension insurance, is a basic pension insurance and an important part of social insurance. It mainly provides protection for urban residents in their later years. When the insured reaches the retirement age, You will be able to receive pension on a monthly basis. However, many insured persons do not know the sources of urban pension insurance funds. Let’s introduce them to you below.
The source of urban pension insurance funds
It is understood that generally as long as you have a local household registration and are over 16 years old (excluding school students), you are not eligible to participate in the basic pension insurance for employees of the employer. Urban non-employed residents who meet the insurance conditions can voluntarily participate in urban pension insurance at their place of residence. The urban pension insurance fund mainly comes from two parts: personal contributions and government subsidies.
1. Personal payment part
Residents participating in urban pension insurance must pay pension insurance premiums in accordance with regulations. The payment standards are currently set at 100 yuan, 200 yuan, 300 yuan, and 400 yuan per year. There are 12 levels of payment, including RMB 1,500, RMB 600, RMB 700, RMB 800, RMB 900, RMB 1,000, RMB 1,100, and RMB 1,200. The local government can add payment levels according to the actual situation. The insured can choose the payment level independently, and the more they pay, the more they will get.
2. Government subsidy part
For insured residents who meet the conditions for receiving the pension, the government will fully pay the basic pension of the urban residents’ social pension insurance. The basic pension is jointly borne by the central finance, provincial finance and local finance. The provincial finance (including the central finance) provides subsidies to cities and counties based on their per capita financial resources, and gives priority to economically weak areas. The city and county governments should provide subsidies for insured residents’ payment. The subsidy standard should not be less than 30-50 yuan per person per year. In areas where conditions permit, the subsidy standard can be increased. The subsidy standard should be lower but not higher; for those who choose higher-level standard payment and For those with longer payment years, subsidies can be appropriately increased to provide incentives. The specific standards and methods will be determined by the city and county governments.
For groups with difficulty in payment such as severely disabled people in urban areas, municipal and county governments pay part or all of the minimum standard pension insurance premiums for them. At the same time, other economic organizations, social organizations and individuals are encouraged to provide subsidies for the insured persons’ contributions.
However, we need to remind everyone that social security is different from commercial insurance. It can only protect the most basic living needs and has a low level of benefits. Therefore, if you want to improve the quality of life after retirement, you can appropriately supplement commercial pension insurance to increase protection. Regarding the guide to medical insurance reimbursement, I have just compiled relevant content. I hope it will be helpful to you: How to use social security and medical insurance? This article teaches you the reimbursement application process!
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