Social insurance for urban workers mainly includes endowment insurance, unemployment insurance, medical insurance, industrial injury insurance and maternity insurance.
Endowment insurance. China has basically formed a multi-level old-age insurance system framework with basic old-age insurance as the core. According to the current system, insurance costs are shared by employers and employees, and the contribution ratio of employers generally does not exceed 20% of total wages; The employee's individual contribution rate is 8% of his salary, all of which goes into his personal account; Individual industrial and commercial households and flexible employees in cities and towns pay about 18% of the local average wage by themselves. Employees who have reached the statutory retirement age and accumulated individual contributions 15 years can receive basic pensions on a monthly basis after retirement.
Unemployment insurance. China's unemployment insurance is enforced by national legislation, and both employers and employees pay insurance premiums. The establishment of unemployment insurance fund, the unit payment ratio is 2% of the total wages of employees in this unit, and the individual employees are 0% of their salary income. When the unemployment insurance fund cannot make ends meet, the government will give necessary subsidies.
Medical insurance. 65438-0998 the State Council issued the Decision on Establishing the Basic Medical Insurance System for Urban Workers, which clarified the policy framework of the medical insurance system reform and laid the foundation for China's multi-level medical security system. The basic medical insurance system for urban workers introduces the sharing mechanism of medical expenses borne by units and individuals and the restraint mechanism of individual accounts, implements the mode of combining social pooling with individual accounts, covers all employers and employees in cities and towns, and implements territorial management. The basic medical insurance fund mainly comes from the medical insurance premiums paid by employers and individuals.
In addition, China has established industrial injury insurance and maternity insurance.
Minimum living security system for urban residents. At present, all cities and counties have established the minimum living security system for urban residents. The formulation of security standards is mainly based on the per capita income and per capita living consumption level of urban residents, the basic necessities of life such as the price level of the previous year, the compulsory education expenses for minors and the local economic and social development level. The minimum living security fund for urban residents is included in the financial budget by the local government. The central government gives support to areas with real financial difficulties.
Rural social security system. According to the characteristics of rural economic and social development, China implements social security measures in rural areas that are different from those in cities and towns. At present, we are actively exploring the establishment of rural old-age insurance system, new rural cooperative medical system and rural social assistance methods, and exploring and gradually solving the social security problems of migrant workers and landless farmers.
At present, China's social security system has the characteristics of low level, wide coverage and multi-level.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.