Standard of Pension Base in Hubei Province in 2023

The base standard for calculating pensions in Hubei Province in 2023 is 6480 yuan.

1.In 2023, the basic pension for retirees in Wuhan will be calculated and paid at the base of 6480 yuan.

2. The monthly standard of basic pension is based on the average monthly salary of employees in this city last year and the average monthly payment salary of myself, and the payment is paid to 1% every full year.

Basic pension:

1, the monthly standard of basic pension is based on the average monthly salary of employees in this city in the previous year and my indexed monthly salary, and the payment is paid to 1% every full year.

2. The basic pension, also known as social pension, is an important part of the basic pension for retirees. Under the condition of the same payment period, the level of basic pension depends on the average payment index of individuals.

To sum up, in the month when the personnel and labor department approves the insured's retirement, the employer will carry files (including retirement certificate, endowment insurance manual, bank passbook account number for receiving retirement fee, etc.). With the approval of the personnel and labor departments, they go to their business departments, fill in the application form for pension benefits and the pension increase and decrease form for retirees, and go through the formalities of on-the-job reduction, retirement reduction, retirement increase and retirement benefits. The Social Security Bureau will directly transfer the pension to the bank next month.

Legal basis:

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

Article 10

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance.