The difference between 29 years and 30 years of social security contributions

Legal analysis: Generally speaking, if you retire in the same place, the pension you receive after 29 years of service is slightly lower than 30 years of service when the payment period is the same as the social security payment base, because according to the calculation method of urban workers' pension in China, the national basic old-age insurance is divided into basic pension and personal account pension. The basic pension will increase by 1% for each year of social security contributions.

From another point of view, that is, from the perspective of treatment, every extra year of social security payment will affect the transitional pension, and if the state adjusts the pension and stipulates that the grade of 29 years of service is different from that of 30 years of service, then the gap between the two years of pension will be even greater.

There are many factors that determine the amount of pension, mainly the following four: length of service, social security, payment time and average social wage. To put it simply, if your salary in a place is the same as the amount of social security contributions, 29 years will be less than 30 years, but it will not be less. Because this is calculated according to the city's basic pension, there are two kinds, one is basic and the other is personal. The basic account will increase by 1% every year, and the personal account will also increase over time.

Legal basis: According to Article 15 of the Social Insurance Law of People's Republic of China (PRC), endowment insurance 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.