Why is the balance of pension account less than the payment?

The endowment insurance premium paid by the insured person of endowment insurance is partly credited to the overall account and partly credited to the personal account. The amount credited to the national overall account is not reflected in the personal account. The endowment insurance premium paid by the insured is credited to the personal account, accounting for 8% of the total, and the rest is credited to the national overall account. Therefore, the amount that the insured sees in the personal account will be far less than the total amount paid by the individual.

Insured people don't have to worry about the small amount credited to their personal accounts. Because the insured person receives the retirement salary, the amount in the personal account is only a small part of the retirement salary, and most of the retirement funds come from the amount in the overall account. After the payment and settlement of personal accounts are completed, the state will start to pool funds to continue to pay retirement wages for the insured until the end of the insured's life.

How much can I get from old-age insurance?

According to the regulations, if the pension insurance payment reaches 15, you can receive a monthly pension after retirement age. How much money you can get is related to the payment fee, payment period and region. Pension consists of basic pension and personal account pension. In fact, it is difficult to generalize, because the money paid by everyone is not uniform. Basic pension = the average monthly salary of employees in the whole province in the previous year (1+ my average payment index) /2 * payment period * 1%.

Personal account pension = personal account deposit/calculation months, where 50 years old, 55 years old and 60 years old are 195, 170 and 139 respectively. Personal account is 8% of the old-age insurance premium that individuals bear every year when they are in office. In addition, my average payment index has three grades, 0.6, 1 3, depending on how much my company paid at the beginning.

How to buy the most cost-effective old-age insurance?

In addition to employees and enterprises jointly buying endowment insurance, individuals can buy it as flexible employees if there are no relevant conditions. There are two ways to buy old-age insurance: apply to the social security bureau where the account is located in the name of an individual. Generally, the minimum payment shall not be less than 60% of the average wage of social workers, and the maximum payment shall be 300%.

However, if you are in a foreign country, you can only buy endowment insurance through the unit, and the unit can bear most of the expenses, which can reduce the pressure on individual payment. If you are insured as a flexible employee, you will get 20% of the average monthly salary of the employees.