How to collect and calculate endowment insurance

First, how to collect the pension insurance:

The social security pension when employees retire consists of two parts: pension = basic pension+personal account pension. These include:

Personal account pension = personal account storage amount ÷ calculation months (50 years old 195, 55 years old 170, 60 years old 139, 120 is no longer unified).

Basic pension = (last year's average monthly salary of employees in the province+my average monthly payment salary) ÷2× payment period × 1% = last year's average monthly salary of employees in the province (1+ my average monthly payment index) ÷2× payment period × 1% (in the formula: my average monthly payment period)

As can be seen from the above formula, under the same payment period, the level of basic pension depends on the average payment index of an individual, that is, the historical average of the ratio of his actual payment base to the average social wage. The minimum limit is 0.6 and the maximum limit is 3.

Therefore, in the two kinds of calculation of pension, no matter what the situation, the higher the payment base and the longer the payment period, the higher the pension.

Pensions are fixed indefinitely. As long as the recipient is alive, he can enjoy a monthly pension. Even if the personal account pension has been used up, it will continue to be paid according to the original standard, and the personal pension will increase year by year according to the average monthly salary of employees in society. Therefore, the longer you live, the more you can get, which is definitely more cost-effective than paying.

Two, the base and application conditions of endowment insurance

If the wages paid by employees are higher than 300% of the province's average social wage in the previous year, 300% of the average social wage in the previous year is the base of payment; If the wages paid by employees are lower than 60% of the province's average social wage last year, 60% of the province's average social wage last year will be the base of payment.

Individuals who participate in endowment insurance in their personal capacity take a certain proportion of the average social salary of local employees in the previous year as the base of individual contributions, and the optional grades are 60%, 80%, 100%. Based on the annual increase in the average social wage, some provinces and cities have increased their grades by 40% in consideration of personal affordability.

Application conditions

Workers must meet three conditions to receive the basic pension every month:

1, has reached the statutory retirement age and has gone through retirement procedures;

2, units and individuals to participate in old-age insurance and fulfill the obligation to pay old-age insurance premiums;

3. The individual payment is at least 15 years (the payment period in the transition period includes the deemed payment period). Today, the legal retirement age of enterprise employees in China is: male employees are 60 years old; Female employees engaged in management and scientific research are 55 years old; Female employees engaged in production and auxiliary work are over 50 years old, and female freelancers and individual industrial and commercial households are over 55 years old; Basic pension =

The average monthly salary of employees in the whole province last year (1+ my average payment index) ÷2× payment period ×1%; Personal account pension = personal account storage amount ÷ personal account pension calculation and payment months; The sum of the above two items A+B is the monthly amount;

Through the above description, we understand the calculation method and base of endowment insurance. As long as 16 years old or older, you can pay old-age insurance. Old-age insurance involves our life security in our later years, and we should attach great importance to it.

The application conditions and procedures of endowment insurance vary according to different regional and national policies. Under normal circumstances, to apply for old-age insurance, the following conditions need to be met: reaching the statutory retirement age, continuously paying the old-age insurance premium for a certain number of years, and paying the insurance premium as a specific unit or individual operator. The application process generally includes the following steps: first, understand the old-age insurance policies and requirements in the region; Secondly, prepare relevant materials, such as ID card, social security card and labor contract. Then, go to the local social security bureau or relevant institutions to submit application forms and materials; Finally, wait for the notice of the audit and approval results. To apply for endowment insurance, you need to fill in the application form accurately, provide real materials and pay the insurance premium on time. If in doubt, it is recommended to consult the local social security bureau or professional institutions.

Legal basis:

People's Republic of China (PRC) Social Insurance Law;

Chapter II Basic Endowment Insurance

Tenth employees should participate in the basic old-age insurance, and employers and employees should 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, and individuals pay the basic old-age insurance premium. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.