How to calculate the payment period when retiring?

All payment years are calculated as months, and each month is calculated as112 years. Total payment period = deemed payment period+individual account period = retirement time-working time-deduction period.

For those who go through retirement formalities beyond the legal retirement age, according to the relevant documents, the payment beyond the retirement age is not recorded in the personal account, and the payment period is not calculated. The retirement time is still the month when the retirement age is reached, and the pension will be paid in the month after approval.

When employees retire, the effective length of service is not calculated, but the payment period is calculated, including the deemed payment period and the actual payment period. Among them, the deemed payment period is related to the continuous length of service and working years before the implementation of the endowment insurance system. The accumulated years at retirement are regarded as the payment years, and the actual payment years are the effective payment years at retirement.

In short, the payment period of endowment insurance is calculated on a monthly basis. How many months' salary do you pay? You can accumulate before retirement. Interrupt allowed. As long as it has accumulated more than 180 months before retirement.

Legal basis:

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

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.