Relationship between social security base and pension

The relationship between payment base and pension is as follows:

1, the social security base is related to employees' retirement wages;

2. Retirement pension consists of basic pension and personal 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.

3. The social security base also affects my average contribution index, which is an important parameter in the basic pension calculation formula, so it will also affect my retirement salary in the future.

Pension calculation formula: enterprise employee pension = basic pension+personal account pension.

Personal account pension = the amount of personal account storage at retirement/the number of months corresponding to my retirement age

My average wage index = the insured's payment base/the average wage of the previous year.

Last year, the average monthly wage of employees in the province: the average social wage announced by the Statistics Bureau every year.

To sum up, it is stipulated that the minimum payment period is 15 years, which does not mean that it can not be paid after 15 years. For employees, payment is a mandatory obligation stipulated by law. As long as you are employed in an employer, you should pay in accordance with state regulations. At the same time, the individual's enjoyment of the basic pension is directly related to the individual's payment period. The longer the payment period, the larger the payment base, and the more pensions you receive after retirement.

Legal basis:

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

Article 11

The basic old-age insurance combines social pooling with individual accounts.

The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.

Article 13

Before employees of state-owned enterprises and institutions participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government.

When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.

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.