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Pilot Work of Wuxi Collective Economic Subsidy Endowment Insurance Carried out in Jiangsu
updated on:2022-11-22 08:50

Recently, it was learned from Wuxi Municipal Department of Human Resources and Social Security that Wuxi will innovatively carry out the pilot work of collective subsidy of basic endowment insurance for urban and rural residents in Jiangsu province, encouraging qualified collective economic organizations at village level to give a certain amount of subsidy to their members who participate in the basic endowment insurance payment for urban and rural residents in that year. At present, there are 460 collective economic organizations in Wuxi, which will benefit more than 10,000 participants of basic endowment insurance for urban and rural residents if they are fully covered.

According to reports, the collective subsidy will improve the pension treatment of the insured payers. The amount of the collective subsidy, the same as the amount of the government subsidy, will be transferred into the personal account of the insured, and will be used for planning and issuing the personal account pension after the conditions for receiving the treatment are met.

It is learned that the subsidy takes the form of “bottom support + incentive”. For the insured paid in full by the government, the standard of collective subsidy is 500 yuan per person per year. For the insured who choose 1,000 yuan, 2,000 yuan, 2,500 yuan and 3,000 yuan, collective subsidies are set at 200 yuan, 300 yuan, 400 yuan and 500 yuan per person per year respectively. It should be noted that only members of collective economic organizations are eligible for the subsidy, settlers from other places or new residents are not eligible at present.

According to reports, Wuxi has relatively strong collective economic strength. Last year, the Ministry of Human Resources and Social Security and Jiangsu Provincial Department of Human Resources and Social Security have investigated the implementation method of the subsidy in Wuxi, and then Wuxi carried out innovative practices on this basis.

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