Social security pension collection standard

The calculation of social security pension standard is divided into two ways:

1. Endowment insurance for urban and rural residents mainly includes basic pension and personal account pension.

The basic pension is a subsidy from the central and local governments, and the standards vary from place to place.

2. A new method for calculating the pension of the transition personnel.

Including retirees and retirees. The main body of this formula is to establish some people who worked before the old-age insurance system but did not establish personal accounts.

Retirement benefits consist of basic pension, personal account pension and transitional pension.

Institutions have enterprise annuities, but the state is also guiding enterprises to gradually establish an enterprise annuity system.

The basic pension is calculated according to complex formulas such as payment period, payment base and average social wage in the previous year.

Personal account pension is calculated and distributed in the same way as urban and rural residents' pension insurance.

Transitional pensions are accounted for in different provinces.

The pension insurance standard for flexible employees is based on the average of the sum of the average monthly salary of employees in the previous year and their indexed monthly average payment wages (that is, half of the sum of the two numbers), and the payment is made to 1% every1year (including the deemed payment period, calculated to the month).

I hope the above content can help you. If in doubt, please consult a professional lawyer.

Legal basis:

Article 1 1 of the Social Insurance Law

The basic old-age insurance combines social pooling with individual accounts.

The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.