How much can social security retire for 23 years?

How much money you can get after 23 years of social security retirement needs to be calculated according to your specific situation.

The calculation of social security pension after 23 years involves many factors, including basic pension, personal account pension and transitional pension.

The calculation formula of basic pension is:

(when retiring, the average monthly salary of employees in the whole province in the previous year plus my indexed monthly average salary) divided by 2 times the payment period multiplied by1%;

The calculation formula of personal account pension is:

When you retire, the amount stored in your personal account is divided by the number of months corresponding to your retirement age;

The calculation formula of transitional pension is:

My indexed monthly average payment salary multiplied by deemed payment period multiplied by 1.3%.

The specific pension amount needs to be determined in combination with the average salary of local employees, individual cumulative payment years, payment wages, personal account amount and other factors.

Therefore, only after the social security department calculates according to your actual payment records and related data can you get the specific amount you can receive every month after retirement.

Calculation method of social security:

1. Calculation of personal account deposit: determined according to the accumulated payment amount in personal social security account and account interest;

2. Calculation of basic pension: usually related to the payment period and the average salary in the region;

3. Influence of individual contribution base: The higher the contribution base, the higher the personal account storage and basic pension;

4. The role of the payment period: the longer the payment period, the more basic pensions;

5. Application of replacement rate: The pension replacement rate calculated according to the payment period and payment base affects the pension level after retirement.

To sum up, according to the individual's specific situation and related factors, the pension amount after 23 years of social security needs to consider many factors such as basic pension, personal account pension and transitional pension. The social security department can only determine the specific amount that can be received every month after retirement after calculation according to the actual payment records and relevant data.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 15

The 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, average life expectancy of urban population, etc.

Article 16

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.

Article 17

If an individual who participates in the basic old-age insurance dies due to illness or non-work, his survivors can receive funeral grants and pensions; Persons who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance. The required funds are paid from the basic old-age insurance fund.

Article 19

If an individual is employed across the overall planning area, his basic old-age insurance relationship will be transferred with him, and the payment period will be calculated cumulatively. When an individual reaches the statutory retirement age, the basic pension is calculated in stages and distributed uniformly. Specific measures shall be formulated by the State Council.