What is the monthly income after 20 years of social security retirement

Now the nationally standardized formula for calculating employee pension insurance: pension consists of two parts: "personal account pension" and "basic account pension".

Assuming that the participant is in Beijing, the average salary is 7,855 yuan. Generally speaking, flexible workers need to contribute 20% of their salary to the pension insurance. Only 8% of this amount goes into the individual pension account, and the remaining 12% goes into the social insurance.

So we can calculate that the insured person every month to pay the pension insurance are these: pension insurance contributions = 7855 × 60% × 20% = 942 yuan, assuming that the average social wage has been rising at a rate of 5%, then the insured person at the age of 60 years old when he retired, the personal account of a **** cumulative contribution of 107,000 yuan. In the first month of retirement, the participant receives a pension of 966 yuan. It can be seen, if in the first and second tier cities, to the status of flexible employment as the lowest grade to pay 20 years of social security, after retirement can get about 1,000 yuan a month. Of course, the above is a theoretical calculation method, in general, the higher the local average social wage, the higher the level of pension insurance contributions, the more you can receive after retirement pension.