the contribution rate of pension insurance units is 2%, and that of employees is 8%. The payment base is related to the employee's salary. The higher the general salary, the higher the payment base. The lower the salary, the lower the base, but the payment base is generally not lower than the minimum wage.

the contribution rate of endowment insurance is 28% (of which, the contribution rate of endowment insurance units is 2% and that of employees is 8%); The contribution rate of individual industrial and commercial households (including self-employed and freelancers) and flexible employees is 2% (including 12% for the householder and 8% for the helper himself).

the payer must truthfully declare the payment base, and pay the basic old-age insurance premium in the month after the social insurance agency approves the payment declaration. The old-age insurance premium that the individual employee should pay is withheld and remitted from his salary by the employer according to law. Urban individual industrial and commercial households, flexible employment can be paid by half a year or the whole year, but in a payment year, the basic old-age insurance premium of that year must be paid in full. The basic old-age insurance is a compulsory social insurance implemented by national legislation. The insured shall not suspend the payment of the basic old-age insurance premium without reason. If the premium is not paid within the time limit, the interest and late payment fee shall be charged according to the provisions of the Social Insurance Law of the People's Republic of China.

There are four levels of endowment insurance:

1. Basic endowment insurance.

basic old-age insurance (also known as national basic old-age insurance) is a social insurance system established by the state and society according to certain laws and regulations to solve the basic life of workers after reaching the national working age limit for lifting their labor obligations or quitting their jobs because of old age. The basic old-age insurance is based on the principle of ensuring the basic life of retirees.

it is mandatory, mutually beneficial and social. Its compulsion is reflected in the legislation and enforcement by the state, and both enterprises and individuals must participate and not violate it; Mutual assistance is reflected in the source of endowment insurance expenses, which are generally shared by the state, enterprises and individuals, and are used and paid uniformly, so that employees of enterprises can get life security and achieve extensive social mutual assistance; Sociality is reflected in the great influence of endowment insurance, the large number of people enjoying it for a long time and the huge expenses.

2. Enterprises supplement endowment insurance.

enterprise supplementary endowment insurance, also known as enterprise annuity, which is implemented by national macro-control and internal decision-making, refers to an auxiliary endowment insurance voluntarily established for employees of the enterprise on the basis of their own economic affordability and participation in basic endowment insurance. Supplementary endowment insurance for enterprises is a kind of enterprise behavior. Enterprises with good benefits can take out more insurance, while enterprises with poor benefits and losses can not take out insurance. The implementation of enterprise annuity can make the old employees who quit their jobs get a higher level of basic pension, which is conducive to stabilizing the workforce and developing enterprise production.

3. Personal savings endowment insurance.

Employee's personal savings endowment insurance is an integral part of China's multi-level endowment insurance system, and it is a supplementary insurance form in which employees voluntarily participate and choose the agency. The purpose of implementing personal savings endowment insurance for employees is to expand the sources of endowment insurance funds, raise endowment insurance funds through multiple channels, and reduce the burden on the state and enterprises; It is conducive to eliminating the long-standing concept that insurance costs are completely covered by the state, and enhancing employees' awareness of self-protection and their initiative to participate in social insurance; At the same time, it can also promote extensive mass supervision of social insurance work.

4. Commercial pension insurance is a long-term personal insurance with the main purpose of obtaining pension. It is a special form of annuity insurance, also known as pension insurance, and it is a supplement to social pension insurance. After paying a certain premium, the insured of commercial endowment insurance can start to receive pension from a certain age. In this way, although the income of the insured decreases after retirement, he can still maintain his pre-retirement living standard with the help of the pension. Commercial old-age insurance, if there are no special provisions, the time interval for the insured to pay the insurance premium is equal, the amount of the insurance premium is equal, the interest rate remains unchanged throughout the payment period, and the interest-bearing frequency is equal to the payment frequency.

Legal basis:

Article 12 of the Social Insurance Law

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

employees should pay the basic old-age insurance premium according to the proportion of their salary 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 account respectively.