Benxi 2019 individual pension insurance contribution standard

There is no way to give a specific amount of money, the local social security for the current year within the limits of free choice. The contribution base of the pension is variable, according to the local wage level,

The contribution base of the pension, and the social security contribution base is the same; it is the monthly average of all wage income of the employee from January to December of the previous year, which is adjusted once a year, and the time of adjustment is inconsistent across the country.

Taking Chaoyang as an example:

The city's average wage for on-the-job workers was 52,732 yuan in 2017.

From July 1, 2018 to June 30, 2019, the individual monthly contribution base for the social insurance year will be 100 percent of the city's average on-the-job worker's salary for the previous year (4,390 yuan per month) as the baseline.

The contribution base for pension insurance for freelancers is determined in three grades:

The first grade is 100% of the city's average monthly wage of on-the-job workers in the previous year (4,390 yuan/month);

The second grade is 80% of the city's average monthly wage of on-the-job workers in the previous year (3,520 yuan/month);

The third grade is 60% of the city's average monthly wage of on-the-job workers in the previous year (2640 yuan/month);

The formula for calculating the basic pension is as follows:

Basic pension=basic pension+individual account pension+transitional pension=average monthly salary of the city's employees in the year prior to retirement×20% (15% for those who have paid contributions for less than 15 years) + principal and interest on the individual account and ÷120+indexed average monthly salary for contributions×prior to the end of 1997 years of contribution × 1.4%.

1. The basic pension of an active enterprise employee = basic pension + personal account pension + transitional pension = the average monthly salary of the city's employees in the year before retirement × 20% (15% for those with less than 15 years of contributions) + the principal and interest of the personal account and ÷ 120 + the indexed average monthly contribution salary × the number of years of contributions before the end of 1997 × 1.4%.

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