Social insurance, that is, social insurance, is an important social security system implemented in China to ensure the basic living needs of citizens under specific circumstances. Social security mainly includes endowment insurance, medical insurance, unemployment insurance, work-related injury insurance and maternity insurance.
In this article, we will focus on the number of years of pension contributions, the difference between individual contributions and company contributions, and the impact of these differences on the quality of life after retirement.
According to China's current pension insurance system, employees participating in pension insurance need to pay for 15 years before they can receive a basic pension when they reach the statutory retirement age. So, what is the difference between 15 years, 20 years, and 25 years?
15 years of contributions: This is the minimum number of years of contributions, and employees can receive a basic pension when they reach the statutory retirement age. However, the pension received at this time is relatively low, which can only guarantee basic living needs.
20 years of contributions: The pension received at this time is slightly higher than that of 15 years of contributions, which can ensure basic living needs and slightly improve the quality of life.
25 years of payment: the payment period is longer, and the pension received is relatively high, which can ensure a better quality of life. The calculation formula of the pension is: pension = basic pension + personal account pension, in which the basic pension is proportional to the payment period, the longer the payment period, the higher the basic pension.
Individual contributions: refers to the part of social security contributions borne by employees, mainly including endowment insurance, medical insurance, unemployment insurance, etc. The proportion of individual contributions is generally 8% of salary, and this part of the contribution is credited to the personal account and used for future pensions, medical reimbursements, etc.
Company payment: refers to the part of social security contributions borne by enterprises for employees, mainly including endowment insurance, medical insurance, unemployment insurance, etc. The company's contribution ratio is generally 16% of the salary, and this part of the payment is included in the overall planning**, which is used to pay employees' pensions, medical reimbursements, etc.
Contribution period: The longer the contribution period, the higher the pension received, and the better the quality of life after retirement. Therefore, employees are encouraged to pay their contributions on time and in full to accumulate more pensions.
Individual and company payment: The part of the individual payment is credited to the personal account, and the part of the company's payment is included in the overall planning**. After retirement, the personal account pension and the basic pension are combined, which affects the quality of life after retirement. Employees should pay attention to their social security contributions to ensure that the payment base and proportion are correct.
In short, the difference in the number of years of social security contributions and the difference between individual and company contributions has an important impact on the quality of life after retirement. Everyone should pay attention to the social security policy, pay the fees on time and in full, and provide better protection for their later life.
At the same time, we should also continue to improve the social security system to improve the well-being of retirees, so that we can share the fruits of social development.