01-31-2021, 10:18 AM
For most people here,they have a special insurance called "basic endowment insurance".They save money when young and when they reach the retirement age (around 55+/-5,factors influenced) they receive money.
If you are employed you are always covered by this policy.The insurance fee is around 20% of your average wage which you comapny pays around 15% and you pays the 5%.(Different company and state uses different rule)Mininum saving period is 15 years.If you are unemployed or self-employed,you decide yourself on the amount of the insurance.
When you retire,youe pension consists of two parts:the basic wage and your account balance wage.After a calcuation you will get the final pension.
If you died before 10 years after retirement,your family can got the account balance at one time.However if you lived long enough that your account balance is 0,you still receive the basic wage.
Juat as the name "社会基本养老保险" indicates,this is society-wide basic insurance.
I am not responsible for any errors in my reply.
If you are employed you are always covered by this policy.The insurance fee is around 20% of your average wage which you comapny pays around 15% and you pays the 5%.(Different company and state uses different rule)Mininum saving period is 15 years.If you are unemployed or self-employed,you decide yourself on the amount of the insurance.
When you retire,youe pension consists of two parts:the basic wage and your account balance wage.After a calcuation you will get the final pension.
If you died before 10 years after retirement,your family can got the account balance at one time.However if you lived long enough that your account balance is 0,you still receive the basic wage.
Juat as the name "社会基本养老保险" indicates,this is society-wide basic insurance.
I am not responsible for any errors in my reply.
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