What does the basic pension mean?

The basic pension, also known as social pension, is an important part of the basic pension for retirees. Under the same payment period, the level of basic pension depends on the average payment index of an empty person.

According to the new calculation and payment method, the average of the sum of the average monthly salary of employees in the previous year and their indexed monthly average payment wages (that is, half of the sum of the two figures) is the calculation base, and the basic pension is paid to 1% every1year (including the deemed payment period, calculated to the month).

Extended data:

On June 29th, 20 15, the Ministry of Human Resources and Social Security and the Ministry of Finance jointly issued the Measures for the Administration of Investment in Basic Endowment Insurance Funds, soliciting opinions from the public, and the deadline for feedback was July, 2065438 13. With the solid progress of the pension reform, the number of insured persons is increasing and the fund scale is expanding. Measures for investment management of pension funds should be issued in time.

On August 23rd, the Chinese government website published the Measures for Investment Management of Basic Endowment Insurance Fund, which was officially promulgated and implemented by the State Council recently. This is a great event and breakthrough in the history of the reform and development of China's endowment insurance system, which indicates that trillions of basic endowment insurance funds are expected to become a new force in the battle for state-owned assets land in China.

The Notice on Establishing the Central Adjustment System of the Basic Endowment Insurance Fund for Enterprise Employees issued by the State Council has been implemented since July 1 2065438.