Everyone feels the same way. When we work in a company, we all have to pay the old-age insurance in proportion, in which the employer pays 16%, the individual pays 8%, and the total payment ratio is 24%. The money is withheld by the employer and collected by the tax authorities, and then all of it is transferred to the account of the endowment insurance fund, so many people will think that the proportion of endowment insurance they pay is 24%. According to this 24% pension insurance, everyone will think that this is their own money, and the part paid by the unit is the money paid by the unit.
People have this understanding because the old-age insurance has always been managed by two accounts. The unit payment is included in the overall account, and the individual payment is included in the personal account. The reason why units have to pay individual employees is because their respective responsibilities and obligations are different. In fact, the financing channel of endowment insurance is the same as other social insurance, that is, the unit pays a little and the individual pays a little. Although the payment account of the endowment insurance takes the personal ID card as the identification number, as long as it is a unit employee, only the unit and the individual pay at the same time is complete, and the loss of any part is not in compliance with the relevant laws and regulations.
So why should endowment insurance be divided into pooling accounts and personal accounts? This is consistent with the calculation method of pension. When we calculate the retirement pension, the pension is divided into two parts: basic pension and personal account pension. The basic pension is based on the average of the sum of the average monthly salary of employees in the previous year and my average indexed payment salary, and is paid to 1% of the basic pension every year. Judging from the calculation process of basic pension, it has nothing to do with our individual contributions or unit contributions, but it is also a reflection of the social development achievements we enjoy after paying. Moreover, the proportion of basic pension will be higher than that of personal account pension. The source of payment of the basic pension is paid by the overall account.
Personal account pension is divided by the total amount of personal account, and the level of personal account pension is closely linked to the total amount of personal account. Personal account is partially paid by personal account. Due to the different structure of the two parts of the pension and the different payment channels of the fund, when we pay the pension insurance, we need to divide it into the overall account and the individual account according to the payment ratio.
Although the part paid by the company has entered the overall account, although the funds entered into the overall account are not owned by individuals, the overall pension fund is closely related to each of us. After all, all our pensions are paid by pension funds, and we have entered the big pool of pension insurance by paying pension insurance. Although the money from the pension fund does not belong to us personally, it belongs to everyone who pays the pension insurance, which is a reservoir to ensure that the pension is paid in full and on time after retirement.
To sum up, the contributions of the old-age insurance units are included in the overall account, and the money in the overall account does not belong to us personally, but belongs to the old-age insurance fund. The calculation and payment of pension will not be linked to the unit payment, but it is the fundamental guarantee for our pension to be paid in full and on time, and it is also the payment channel of our basic pension source.