Old-age insurance is the most important and most important part of the social security system, because other parts of social security, such as unemployment, work injury, birth, medical and other insurance objects, are uncertain things happen, not everyone will be unemployed, unemployed But also mostly temporary, by work injury, serious illness, etc., but everyone will grow old, need to pension, which is OK. Therefore, if not specifically stated, social security refers to the old-age insurance. Old-age insurance includes basic old-age insurance, supplementary pension insurance and commercial insurance.
The basic old-age insurance, which is enforced by the government, is mandatory for people who are retiring, losing their ability to work and guaranteeing their lives after years of age, and are compelled to participate, whether they are willing or unwilling.
Enterprises to supplement the old-age insurance, is the basic endowment insurance system to supplement, in order to better protect the retirement of workers, enterprises generally through the establishment of annuities for employees to supplement the old-age insurance. Commercial insurance is the individual's voluntary participation in commercial life insurance.
The basic model of Countries old-age insurance financing is the combination of social pooling and individual accounts. The source of pension insurance is the payment of enterprises and individuals. The enterprise does not pay more than 20% of the total wages of enterprises (pay) The fee is 8% of the individual's pay. The basis for the calculation of wages is generally 60% to 200% (2 times) the average basic wage of workers, and the maximum is not more than 300% (3 times). The basic wage is determined by the labor and social security department.
Enterprises to pay part of the year before 2000, part of the social co-ordination, part of the personal account into the individual to pay part of the personal account, part of the social co-ordination, cross each other, dazzling. After 2000, the enterprise to pay part of all into the social pool account, the individual to pay part of all into the individual account. The term of payment for a continuous period of 15 years (individuals can not surrender) to meet these conditions, who can retire after retirement, monthly pension.
The pension consists of two parts, part of which is the basic pension, about 20% of the average monthly basic salary of the workers in the provincial administrative area of the previous year, which is roughly paid by the community and the other is the personal account pension , Is the total amount of individual one hundred and twenty one.
The money in the social pooling account is not a specific person, but all of them in a region (the size of the area, that is, the level of co-ordination, that is, every person who claims to retire has the right to To the part of the pension.Now the highest level of social security in USA is the provincial co-ordination of the past railway, civil aviation, finance and other industry co-ordination, now has been converted into local co-ordination) personal account of the money, only belong to the individual, correspond. Social co-ordination embodies the co-existence, individual accounts reflect the self-protection and incentive.