Legal basis: Article 13 of the Social Insurance Law of People's Republic of China (PRC).
Before employees of state-owned enterprises and institutions participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.
Fifteenth basic pension consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount per mu, average life expectancy of urban population, etc.
1. The conditions for these three types of candidates to apply for the teacher qualification exam