How much does it cost to pay social security at the age of 55

The amount of 55-year-old social security payment needs to be calculated according to the local average social wage in the previous year.

1, at the age of 55, I want to pay social security in one lump sum, and the payment amount is determined according to the local average social wage in the previous year;

2. The calculation method of the payment amount is: the minimum payment grade is not less than 60% of the local average wage, and the highest grade is 300%;

3. Under normal circumstances, most people choose to pay according to the lowest grade;

The specific payment amount will be different every year, because the average social wage changes every year.

Social security payment base:

1, determination of payment base: usually based on the average monthly salary of an individual in the previous year;

2. Upper and lower limits of the payment base: The local government will stipulate the upper and lower limits of the payment base. Generally, the upper limit is not more than 3 times of the average monthly salary of local employees in the previous year, and the lower limit is not less than 60% of the average monthly salary of local employees in the previous year;

3. Payment base adjustment: according to the local economic development level and the average wage growth of employees, it will be adjusted every year;

4. Impact of payment base: The payment base directly affects the amount of social security contributions of individuals and units, and also affects future social security benefits.

To sum up, the amount of 55-year-old social security payment needs to be calculated according to the local average social wage in the previous year. The minimum payment level is not less than 60% of the local average wage, and the maximum payment level is not less than 300%. Most people usually choose to pay according to the lowest grade, and the specific payment amount will be different every year, because the average social wage changes every year.

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.