Calculation method of endowment insurance money

The calculation method of pension insurance is:

(1) The average monthly salary of employees in the year above the individual payment is the base (the minimum is 60% of the salary of employees in the whole city in the previous year; The highest figure is 8% of the city's employees' wages in the previous year.

② The unit payment is 22% of the average monthly salary of employees in the previous year. Ministry of Human Resources and Social Security adjusted the size of individual pension account from 1 1% of my salary to 8%. The previous policy was that individual contributions and 3% unit contributions were all included in individual pension accounts, and unit contributions 19% were transferred to social pooling, while the new policy also included 3% of unit contributions in social pooling to solve the problem of empty accounts in pension accounts.

Endowment insurance is based on the living security of the elderly, and an insurance fund is established through redistribution or savings to pay the living expenses of the elderly. Its implementation has the following functions:

1, which is conducive to ensuring labor reproduction.

The establishment of the old-age insurance system is conducive to the normal intergenerational replacement of the labor force, the retirement of the elderly, the smooth employment of the newly growing labor force and the rationalization of the employment structure.

2, conducive to social security and stability.

Endowment insurance provides basic living security for the elderly and makes them feel safe. With the arrival of the aging population, the proportion of the elderly population is increasing and the number is increasing. Old-age insurance guarantees the basic life of elderly workers, which is equivalent to ensuring the basic life of a considerable number of people in society. For on-the-job employees, participating in endowment insurance means that they have expectations for their future old-age life and are free from worries. In terms of social mentality, more people are stable and less impetuous, which is conducive to social stability.

3. It is conducive to promoting economic development.

The pension insurance system designed by many countries links fairness with efficiency, especially the partial accumulation and complete accumulation pension fund raising model. The amount of pension received by workers after retirement is directly related to their wage income and payment during their on-the-job work, which can undoubtedly stimulate workers to work actively during their on-the-job work and improve efficiency.

To sum up: at present, China implements an endowment insurance system that combines social pooling and individual accounts, which needs to be paid by enterprises and individual employees. In practice, not only employees of enterprises can buy old-age insurance, but also individual workers can buy old-age insurance, but at this time all the expenses of paying old-age insurance are borne by individuals. According to the law of our country, the employer must buy endowment insurance for employees. If the employer does not purchase endowment insurance, it can solve it through judicial channels and safeguard its legitimate rights and interests.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 15

The basic pension consists of overall pension and individual account pension.

The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

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.