According to the new regulations on the payment period of endowment insurance, the longer the payment period of endowment insurance, the better?

The new regulation of the payment period of old-age insurance is that the individual payment period is accumulated to 15 years, and the basic old-age insurance can only be received monthly after retirement. The payment period of endowment insurance is not as long as possible. Although it directly affects the amount of pension after retirement, it does not mean that the longer you pay social security, the more pensions you get.

First, the new provisions of the pension insurance payment period

New regulations on the payment period of old-age insurance: the individual payment period is accumulated to 15 years, and the basic pension is paid monthly after retirement. After reaching the statutory retirement age, employees can receive basic old-age insurance on a monthly basis if their individual payment period has accumulated to 15 years. Less than 15 years, you can't receive basic old-age insurance on a monthly basis. Cumulative payment 15 years is a basic prerequisite and lower limit condition for employees to receive basic pension every month after retirement.

I remind you that although it is stipulated that enterprise employees can receive the basic pension on a monthly basis after the cumulative payment period 15, it does not mean that they can't pay after the individual payment period 15. According to the Labor Law, Social Insurance Law and other relevant laws and regulations, employees themselves have a statutory obligation to pay endowment insurance premiums, and it is mandatory to fulfill this obligation.

Second, the longer the pension insurance payment period, the better?

The payment period of endowment insurance is not necessarily as many as possible. Mind you, retirement pension is related to three factors:

1. Individual contribution base

The standard base for receiving the basic pension on a monthly basis is based on the average monthly salary of employees in this city in the previous year and the average monthly salary of retirees when they retire, and they participate in the calculation.

The longer the payment time, the more pensions you receive.

The calculation and payment of basic pension is more closely related to the payment period. The longer the payment time, the more pensions you receive. Take the basic pension as an example. According to the new regulations, the monthly standard payment of basic pension should be paid to 1% every year, so the longer the payment time, the more pensions there will be.

The longer you work, the more your pension will be.

The new method stipulates that the monthly standard of personal account pension is calculated by dividing the accumulated amount of personal account by the number of months stipulated by the state. The older the retirement age, the fewer the months.

Third, can the endowment insurance be taken out in advance?

Generally speaking, endowment insurance cannot be taken out in advance. Individuals who have reached the statutory retirement age and have paid for fifteen years can receive pension insurance on a monthly basis; Or the insured has settled abroad or died, he can receive pension insurance.