The sources of the basic old-age insurance fund for landless farmers are mainly composed of overall funds and individual account funds.

The first part: Overall planning funds are mainly raised from the proceeds of expropriated land, and consist of government investment, village (group) collective investment and other funds. The village (group) collective investment shall be paid by 20% from the land compensation fee and resettlement fee.

Part II: Personal account funds are composed of voluntary contributions and interest of land-expropriated farmers. Individual voluntary payment standards are divided into two grades: 3600 yuan and 6600 yuan. Land-expropriated farmers can choose one of them voluntarily, and once they are selected, they may not change it.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.