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How much is Jiangsu's 20-year social security retirement
Individuals who have paid social security for more than 20 years can receive a monthly pension of about 1800 yuan after retirement if they pay according to the minimum payment base. The actual amount will vary depending on the payment base, payment period and local policies. Pension calculation usually considers factors such as personal average salary, payment period and social average salary.
Calculation method of social security:
1, personal account pension: calculated according to the accumulated payment amount of personal account and the expected number of months of collection;
2. Basic pension: usually determined according to local pension calculation and payment standards and individual payment years;
3. Transitional pension: In some areas, in order to balance the pension level between different groups, transitional pension may be established;
4. Supplementary pension for enterprises: If an individual's unit has an enterprise annuity or supplementary pension insurance plan, he can also receive this part of the pension.
To sum up, after paying social security for 20 years, according to the minimum payment base, the monthly pension is about 1.800 yuan, but the actual amount will be affected by the payment base, payment period and regional policies. The calculation of pension also involves many factors such as personal average salary and social average salary.
Legal basis:
People's Republic of China (PRC) social insurance law
Article 16
Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.
Article 18
The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.
Article 19
If an individual is employed across the overall planning area, his basic old-age insurance relationship will be transferred with him, and the payment period will be calculated cumulatively. When an individual reaches the statutory retirement age, the basic pension is calculated in stages and distributed uniformly. Specific measures shall be formulated by the State Council.
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