All rural residents who have Yancheng household registration and are engaged in agricultural production such as agriculture, forestry, animal husbandry and fishery, male 18 to 60 years old and female 18 to 55 years old, belong to the new rural insurance object. It is understood that Yancheng has 300,000 urban residents participating in the new rural insurance this year, and has collected 300 million yuan from the new rural insurance fund.

Director Chen of the Rural Endowment Insurance Department of Yancheng Labor and Social Security Bureau introduced that the new rural endowment insurance fund in Yancheng implements financing mechanisms such as individual contributions, collective subsidies and government subsidies. Rural residents only need to pay the minimum 600 yuan every year, and receive the minimum 130 yuan every month after reaching retirement age. In addition, rural residents will also receive a "basic pension", which will be directly subsidized by the central government by 50%, and the rest will be shared equally by provinces, cities and counties, and rural residents do not have to bear it. At the same time, the "basic pension" will also benefit rural residents who have reached retirement age and have no pension insurance, and its specific amount is under study.

You can consult your village committee or township (office) labor security office for specific matters.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.