Kunshan social security pension calculator

Collection formula: monthly collection = local average monthly salary of last year ×20%+ total personal account/120.

120 is calculated on an annual basis 10 year and 12 month. When the state formulated this standard, it took into account the retirement age of employees and the average life expectancy of the population at that time. After retiring at the age of 60, people lived on average 10 years old. With the improvement of China's medical level and quality of life, the life expectancy of our people will definitely be longer and longer, and the number 120 will definitely be adjusted, perhaps to 180 (fifteen years). Now the average life expectancy in China is about 72 years. Minus 3 for men and 0 for women.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.