1. On-the-job employees pay endowment insurance: 20% paid by the unit is included in the overall endowment insurance, and 8% paid by the individual is included in the personal account.
2. Freelancer status payment: 8% of the total 20% will be transferred to personal account, and 1 1% will be transferred to pension insurance as a whole.
Pensions need to meet the following conditions:
1. Before I retired, I participated in the basic old-age insurance according to the regulations;
2. Reach the retirement age stipulated by the state or meet the retirement conditions;
3. I pay the endowment insurance premium in full and on time 15 years. If only the first two conditions are met, and the payment period (including deemed payment period) is less than 15 years, the old-age insurance cannot be enjoyed monthly.
To sum up, the conditions for receiving a pension include age, payment period, insurance, etc. The amount of pension will be affected by the average age, the average salary of the insured place, the accumulated years of pension, pension technology, personal pension account number, payment period and other factors.
Legal basis:
People's Republic of China (PRC) social insurance law
Article 16
Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age.
Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.