How to merge the pension in 2024

China has always been very concerned about the retirement life of the retired elderly, since the introduction of the pension system, more and more people began to pay attention to the payment of social pension insurance. As we all know, in the payment of social security in this regard, the private sector employees and institutions of the employees to pay the proportion is a little different.

And in the receipt of pensions, employees of institutions can often receive an additional occupational pension, private employees are often not. And recently there are a lot of people are talking about pensions and things, pensions and what does it mean? After the parallel track after 80 pensions how to calculate?

A, 2024 civil service pensions and what does it mean?

1, double-track

We all know that the retirement mechanism of the organization and enterprise work unit is a little different. Normally, when civil servants pay pension insurance, the payment ratio is either very high or simply do not pay, anyway, it is certain to have a pension. On the other hand, enterprise retirees need to pay social security on time in order to receive a certain amount of pension after retirement, which is the dual-track pension mechanism.

2, and track

According to the news of the relevant institutions, from October 2024, the ten-year transition period of the institutional pension system will end.

That is to say, from the second half of 2024 onwards, the way of calculating the pension of the retirees of the institutions will be updated. It uses the average contribution index of accumulated contribution years, and the average social wage to calculate the pension benefits.

That is to say, after the merger, whether the staff of the organization can receive a pension, according to the number of years of contributions, the contribution base, the length of service, etc. to link, and the staff of the ordinary business units have no difference.

But from a practical point of view, there are actually some differences.

Because in reality, many enterprises, not strictly in accordance with their actual salary base, to establish the social security contribution base. Thus reducing the final average contribution index, then the natural enterprise units of the pension is still very low.

And the pension contribution base of the institutions is often very high, so the pension after retirement is still relatively high.

Second, and after the track after 80 pensions how to calculate?

After the pension track, the social security pension calculation is the same as the urban workers, according to this formula: monthly basic pension = basic pension + personal account pension; basic pension = (the province's average monthly salary of the previous year's on-the-job workers + my indexed monthly average contribution salary) / 2 * years of contribution * 1%.

In general, the later the participation in the work, the closer to the point of time in October 2014, the shorter the number of years, the smaller the transitional pension.

In fact, the pension system has long been merged, and there will be no significant change in the reality of the pension merger after 2024. This is one of the reasons why the army of civil servants is so large every year.