Individual social security pensions cost-effective

There is no difference in retirement benefits between individual and unit pension payments, as long as the contribution coefficients are the same.

1, workers and units after the termination of labor relations, you can continue to pay pension insurance and medical insurance in accordance with the standards of flexible employment personnel, the number of years of contributions and the previous unit to pay a combined calculation.

2. The amount of pension you can receive depends mainly on the length of your contribution period, the level of your contribution base and the local average social wage.

3. Pension = basic pension + individual account pension

4. Individual account pension = individual account savings ÷ number of months of payment (the number of months of payment is based on the retirement age and the average life expectancy of the population at the time to determine. The number of accrued months is slightly equal to (average life expectancy of the population - retirement age) X 12. At present, it is 195 for 50 years old, 170 for 55 years old, 139 for 60 years old, and is no longer uniformly 120)

5. Basic pension = (average monthly salary of the province's previous year's on-the-job workers + my average indexed monthly contribution salary) ÷ 2 × years of contribution × 1% = average monthly salary of the province's previous year's on-the-job workers ( 1+my average contribution index)÷2×contribution period×1%

Where: my indexed average monthly contribution wage=the province's previous year's average monthly wage of on-the-job workers×my average contribution index

In the above formula, we can see that, in the case of the same number of years of contribution, the level of the basic pension depends on the average contribution index of the individual, and the average contribution index of the individual is the difference between The average value of the ratio of one's actual contribution base to the average social wage over the years. The lower limit is 0.6 and the higher limit is 3. Therefore, in both calculations of the pension, the higher the contribution base and the longer the number of years of contributions, the higher the pension will be, regardless of the situation. The pension is provided for an indefinite period of time. As long as the recipient survives, he or she can enjoy the treatment of receiving a monthly pension, and even if the personal account pension has been used up, the basic pension will still continue to be calculated in accordance with the original standard; moreover, the personal pension will have to be increased year by year in accordance with the increase in the average monthly salary of the social workers on the job. Therefore, the longer you live, the more you can receive, which is definitely more cost-effective compared to paying fees.

Legal basis: Article 10 of the Social Insurance Law, employees should participate in the basic pension insurance, by the employer and the employee *** with the payment of basic pension insurance premiums.

Individual entrepreneurs without employees, part-time workers who do not participate in the basic pension insurance in the employing organization, and other flexibly employed persons can participate in the basic pension insurance and pay the basic pension insurance premiums by individuals.

The methods of pension insurance for civil servants and staff members administered under the civil service law shall be prescribed by the State Council.

Article 11: Basic pension insurance is a combination of social coordination and individual accounts.

The basic pension insurance fund consists of contributions from employers and individuals and government subsidies.

Article 12 The employer shall pay the basic pension insurance premiums in accordance with the proportion of the total wages of the employees of the employer as stipulated by the state, which shall be credited to the basic pension insurance co-ordination fund.

Employees shall pay the basic pension insurance premiums in accordance with the proportion of their own wages prescribed by the State and credited to their individual accounts.

Individual industrial and commercial households without employees, part-time workers who do not participate in basic pension insurance with their employers, and other flexibly employed persons participating in basic pension insurance shall pay basic pension insurance premiums in accordance with the state regulations, which shall be credited to the Basic Pension Insurance Coordination Fund and the individual account respectively.

Article 15: The basic pension consists of a coordinated pension and an individual account pension.

The basic pension is determined on the basis of the cumulative number of years of contributions made by an individual, the salary paid, the average salary of local workers, the amount in the individual account, and the average life expectancy of the urban population.

Article 16 Individuals who have participated in basic old-age insurance and who have accumulated fifteen years of contributions by the time they reach the legal retirement age shall receive a basic pension on a monthly basis.

Individuals who have participated in basic old-age insurance and have made less than fifteen years of accumulated contributions when they reach the legal retirement age may make contributions until they reach the full fifteen years, and receive a basic pension on a monthly basis; they may also be transferred to the new type of rural social old-age insurance or urban residents' social old-age insurance, and enjoy the corresponding old-age insurance treatment in accordance with the provisions of the State Council.

Extended reading: insurance how to buy, which is good, hand to teach you to avoid these insurance "pit"