What is the retirement standard of social security personal account of 654.38+0.6 million?

Many old people have participated in lifelong pension insurance, and they really want to know how much pension they can get when they retire. However, the calculation formula of pension in each province is the same, and there are also differences. For example, the basic pension calculation formula mainly includes three parts: basic pension, personal account pension and transitional pension.

The basic pension calculation formula and individual account pension calculation formula are determined according to Document No.38 issued by the State Council in 2005, and are unified throughout the country. The formula for calculating the transitional pension is determined by the local authorities and reported to the Ministry of Finance of Ministry of Human Resources and Social Security for the record. In fact, it can be modified according to local needs later. For example, Shanghai and Guangdong Province have been revised in recent years.

The calculation formula of pension in each province is unified. The calculation formula of pension in Jiangsu Province is as follows:

According to the calculation formula of pension, we can see that if everyone has different payment years, different payment indexes, different retirement ages and different calculation years of transitional pension, the pension may be different. If the length of service is 38 years and the personal account is 6.5438+0.6 million yuan, what will the pension be?

On the other hand, the pension calculation formula of government institutions and enterprise retirees is different. If you look at personal accounts, institutions and institutions began to pay endowment insurance from June 20 14 to June 20438+00. In just a few years, the personal account of endowment insurance rarely accumulated as much as160,000 yuan.

The personal account balance of endowment insurance is gradually accumulated according to 8% of the payment base. Before 2005, it was generally 1 1%. Therefore, the personal account balance of endowment insurance can reflect the level of payment base and payment grade. The personal account balance of endowment insurance is 6.5438+0.6 million yuan, which is quite a lot, almost equivalent to the average payment index of 654.38+0.5 or more.

The average payment index is actually the average payment level, and the average payment index of 1.5 is equivalent to the previous payment level of 150%.

If the average contribution index is 1.5 and the length of service is 38 years, according to the basic pension calculation formula, you can receive 47.5% of the average social salary of the previous year when you retire.

The average social wage in the last year of retirement is now in Shandong Province, Jiangsu Province, Beijing and many other areas. In order to realize the transitional connection between the social wage of urban non-private units and the average wage of employees in full-caliber urban units, it is generally renamed as the pension plan and payment base of that year, and the growth rate will be lower than that of full-caliber social wages.

This was announced by the local community department (to be reported to Ministry of Human Resources and Social Security and the Ministry of Finance for the record). 202 1, Jiangsu province 7974 yuan, this year is expected to increase by more than 4%, estimated to reach more than 8300 yuan.

According to the pension base of 8,300 yuan, the basic pension can receive more than 3,940 yuan per month, which is not a low treatment.

The second part is personal account pension.

Personal account pension is equal to the personal account balance of pension insurance ÷ the number of months determined by retirement age.

Generally speaking, men who have worked for 38 years are mostly men who retire at the age of 60. Of course, some women with working age of 17 can also have 38 years of service.

Still calculated by retirement at the age of 60, the number of months in personal account is 139 months. The balance of personal account is 6.5438+0.6 million yuan, and the personal account pension can receive about 1. 1.50 yuan every month.

The third part is the transitional pension. Mainly convert the payment period before 1995 into the balance of personal account, and calculate the transitional pension benefits according to the relevant bookkeeping interest rate.

In fact, 1995 The social wages in every city in Jiangsu Province are different, so the amount of money converted will be different, especially in Nanjing.

Generally speaking, if you work in 1984, the average contribution index is 1.5, the accumulated balance is ÷ 120, and the monthly transitional pension is more than 1000 yuan.

Generally speaking, if you retire in 2022, the basic pension, personal account pension and transitional pension will add up to more than 6,000 yuan per month.

This is just your pension when you retire. According to the unified regulations of the state, the pension will be higher and higher every year. Generally, it will increase by more than one or two hundred yuan every year.

If the insured dies, his survivors can receive funeral subsidies, pensions and personal account balances. In case of early death, most of the personal account of 6.5438+0.6 million yuan can be inherited.

In fact, participating in endowment insurance is to deal with longevity risks. In the case of good health and long life, it is most important to have a stable social security pension.