The difference between social security insurance for more than five years and less than five years

Minimum payment period of social security endowment insurance 15 years. At retirement age (male 60, female 55), you can get a pension, and you can get more if you pay more. Pay more than five years, and get more pension every month.

Pension calculation formula:

1. The content of the personal account for endowment insurance includes three parts: the basic endowment insurance premium paid by the individual+the basic endowment insurance premium paid by the company is credited to the personal account+the interest calculated according to the social security interest rate. Obviously, the new policy will exclude the basic old-age insurance premium paid by the unit from the personal account.

2. Payment ratio: This part consists of individual payment and unit payment.

(1) Individual contributions are based on the average monthly salary of employees in the previous year (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 paid according to 22% of the average monthly salary of the employee in the previous year. The old policy is that 3% of individual contributions and unit contributions are all transferred to individual pension accounts, and 19% of unit contributions are transferred to social pooling, while the new policy is to transfer 3% of unit contributions to social pooling to solve the problem of empty pension accounts.

3. Pension calculation formula: "Basic pension for middle-aged people = basic pension+personal account pension+transitional pension = average monthly salary of employees in the whole city in the previous year before retirement ×20% (15 if the payment period is less than 15)+ personal account principal and interest and indexed monthly average payment salary × 120+.

"Newcomer basic pension = basic pension+personal account pension. The basic pension is calculated and paid according to 20% of the average monthly salary of employees in this city in the previous year when I retire, and the personal account pension is calculated and paid according to the amount stored in my account divided by 120. (Note: Due to objective reasons, the calculation standards of some cities in China may be different. )