Calculation method of Hubei pension

Hubei pension calculation method, when employees retire, the pension consists of two parts: pension = basic pension+personal account pension = personal account savings ÷ calculation months (50 years old 195, 55 years old 170, 60 years old 139, No longer unified as 120) basic pension = (average monthly salary of employees in the whole province last year+average monthly payment salary of myself) ÷2× payment period× 60 As can be seen from the above formula, the level of basic pension depends on the average individual payment index, which is the historical average of the ratio of its actual payment base to the average social salary. The lower limit is 0.6 and the upper limit is 3. Therefore, in the two kinds of calculation of pension, no matter what the situation, the higher the payment base and the longer the payment period, the higher the pension. Pensions are fixed indefinitely. As long as the recipient is alive, he can enjoy a monthly pension. Even if the personal account pension has been used up, it will continue to be paid according to the original standard. Moreover, personal pension will increase year by year with the increase of the average monthly salary of employees in society. Therefore, the longer you live, the more you can get, which is definitely more cost-effective than paying. The above is the introduction of the calculation method of pension in public institutions. As can be seen from the above, the calculation method of public institution pension is similar to that of our ordinary social security pension.

Hubei pension payment standard and application process means that all residents who meet certain conditions in Hubei Province can enjoy pension payment. According to the relevant policies and regulations of Hubei Province, the pension payment standard is mainly calculated according to the insured years, payment base and individual payment. Specifically, the longer the insurance period, the higher the payment base, the more individual contributions and the higher the pension payment standard.

The process of applying for a pension in Hubei generally includes the following steps: First, you need to consult the local social insurance department or the pension insurance agency to obtain the required forms and materials list. Secondly, fill in the relevant forms as required, and prepare the necessary materials such as identity certificate, social security card, household registration book, work unit certificate and payment certificate. Then, submit the completed application form and required materials to the designated office for review. After the final approval, the pension will be paid to the applicant's personal account according to the specified time period.

It should be noted that there may be some differences in pension payment standards and application procedures in different regions, and the specific situation needs to be understood and operated according to relevant local policies. Applicants are advised to consult the local social security department or the endowment insurance office in advance before going through the application procedures to ensure the smooth progress of the application.

Hubei pension payment standard and application process means that all residents who meet certain conditions in Hubei Province can enjoy pension payment. According to the relevant policies and regulations of Hubei Province, the pension payment standard is mainly calculated according to the insured years, payment base and individual payment. Specifically, the longer the insurance period, the higher the payment base, the more individual contributions and the higher the pension payment standard.

Legal basis:

Social Insurance Law of People's Republic of China (PRC) (revised 20 18);

Chapter V Unemployment Insurance Article 47 The standard of unemployment insurance benefits shall be determined by the people's governments of provinces, autonomous regions and municipalities directly under the Central Government, and shall not be lower than the minimum living standard for urban residents.