The basic old-age insurance premium is shared by the unit and individual, and the proportion of the unit paying the basic old-age insurance premium generally does not exceed 20% of the total wages of the unit. The proportion of individuals paying the basic old-age insurance premium is 8% of their paid wages.

Legal objectivity:

Article 12 of the Social Insurance Law

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.