Xianyang pension insurance individual and unit contribution ratio

The employee's enterprise pays 20% and the individual employee bears 8%.

The contribution ratio of basic pension insurance for employees is 20% for the enterprise where the employee works and 8% for the individual employee. Previously, the provisions of the unit that part of the 20% and personal 8% of all transferred to the personal account, now the unit contribution is no longer transferred to the personal account, only personal contribution of the 8% transferred to the personal account.

On October 18, 2017, Comrade Xi Jinping pointed out in the report of the Nineteenth National Congress that it is necessary to improve the basic pension insurance system for urban workers. from January to July 2019, the national basic pension insurance fund for enterprise workers had an income of 2.2 trillion yuan and an expenditure of about 2 trillion yuan, with a balance of income and expenditure of more than 200 billion yuan, and a cumulative balance of about 5 trillion yuan.

People who participate in the city's basic pension insurance social coordination of urban enterprise workers, reaching the retirement age specified by the state, the actual contribution period (including the deemed contribution period, the same below) of 15 years or more, the basic pension will be paid on a monthly basis. According to the latest pension calculation method, the employee's pension at retirement consists of two parts:

Pension = basic pension + personal account pension

Personal account pension = personal account savings ÷ number of months of payment (195 at age 50, 170 at age 55, and 139 at age 60, and no longer uniformly 120) Basic pension = (average monthly salary of employees on the job in the previous year in the province + my indexed average monthly salary of employees) The basic pension = (the province's average monthly salary of employees on the job in the previous year + my indexed average monthly contribution salary) ÷ 2 × years of contribution × 1% = the province's average monthly salary of employees on the job in the previous year (1 + my average contribution index) ÷ 2 × years of contribution × 1%

Note: my indexed average monthly contribution salary = the province's average monthly salary of employees on the job in the previous year × my average contribution index.

In the above formula, it can be seen that, in the case of the same number of years of contributions, the level of the basic pension depends on the individual's average contribution index, which is the average value of the ratio of one's actual contribution base to the average social wage over the years.

The low limit is 0.6 and the high limit is 3. Therefore, in both calculations of the pension, in any case, the higher the contribution base and the longer the number of years of contribution, the higher the pension will be. 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, even if the personal account pension has been used up, it will still continue to be paid in accordance with the original standard.

Baidu Encyclopedia - Employee Basic Pension Insurance