Can social security card provide for the aged?

Social security can provide for the aged, because social security is a kind of social security consisting of endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. Among them, endowment insurance plays a very important role after employees get old, and it will provide monthly pensions for their retirement.

At present, the monthly pension paid by employees after retirement is calculated according to basic pension+personal account pension, and the calculation formula is: pension = basic pension+personal account pension, and basic pension = [average monthly salary of employees in this city in the previous year at the time of retirement ×( 1+ my average salary index )× 2× my accumulated payment years (length of service )×1%.

In fact, it can be seen from this formula that both the payment period and the payment base of social security affect the salary after retirement. For example, an employee's monthly social security contribution base is 5,000 yuan, which is 15 years. Last year, the average monthly salary of employees in his city was 7,000 yuan, so the monthly pension that employees can get after retiring at the age of 60 is 14 18. It is also 15 years. If the employee's social security base becomes 3000 yuan, he can only get 1062 yuan every month after retirement at the age of 60.

Therefore, it is best for employees to pay social security as much as possible before retirement, so that they can receive more pensions after retirement.