The starting time for pension insurance payment for fixed-term workers and employees under labor contract system is different.

Fixed workers refer to formal employees who were assigned to work in state-owned or county-level collective units by the labor (personnel) department within the national plan quota before September 30, 1986, as well as those who enlisted, demobilized, transferred to other jobs, or retired before September 30, 1986.

Regular employees who later work in state-owned or collective units above the county level.

After the implementation of the "Labor Law", the labor contract system was fully implemented, and all employees were employees under the labor contract system.

When fixed workers pay pension insurance, although some places began to pool retirement expenses in the late 1980s, individuals do not pay and implement the reform of the basic pension insurance system. Individual contributions began in 1991 in the State Council's "Reform of the Pension Insurance System for Enterprise Employees"

After the issuance of the Decision (Guofa [1991] No. 33), it will start in 1992 (the time varies among provinces, municipalities, and autonomous regions), and no later than early 1993.

On July 12, 1986, the State Council issued four decisions (Guofa (1986) No. 77), including the "Interim Provisions on the Implementation of the Labor Contract System in State-Owned Enterprises", which came into effect on October 1, 1986. All employees recruited were

Employees under labor contracts, enterprises and individuals are required to pay basic pension insurance premiums.

The State Council's "Decision on the Reform of the Pension Insurance System for Enterprise Employees" Guofa [1991] No. 33 2. With the development of the economy, a system that combines basic pension insurance with enterprise supplementary pension insurance and employee personal savings pension insurance has been gradually established.

Change the method in which pension insurance is completely contracted by the state and enterprises. The state, enterprises, and individuals will jointly bear the burden, and individual employees must also pay certain fees.

The State Council's "Interim Provisions on the Implementation of the Labor Contract System in State-owned Enterprises" Guofa No. 198677 Article 26 The state implements a social insurance system for the retirement and pension of workers under labor contract systems.

The source of retirement pension funds is contributions from enterprises and labor contract workers.

When the retirement pension is insufficient, the state will provide appropriate subsidies.

The retirement pension fund paid by the enterprise is disbursed before paying income tax. The amount paid is about 15% of the total salary of the workers under the labor contract system. The official bank will withhold it on a monthly basis and transfer it to the social insurance agency affiliated with the local labor administrative department.

A special "retirement pension fund" account opened by a specialized institution in a bank.

For those who fail to pay by the due date, late payment fees will be charged in accordance with regulations.

The amount of retirement pension funds paid by workers under a labor contract system shall not exceed 3% of their standard wages.

The enterprise deducts it from wages on a monthly basis and pays it to the social insurance agency affiliated to the local labor administration department.

The money deposited by the retirement and pension fund in the bank will be calculated at the interest rate of urban and rural residents' personal savings deposits, and the interest earned will be transferred to the retirement and pension fund.