Is social security paid on 15?

Hello! I'm happy to answer your question. First of all, social security must be paid for 15 years before retirement can receive pension. So the time must be greater than 15 years. If it exceeds 15 years, you will receive more pensions in the future. This involves the specific ways to receive pensions, including personal account pensions and basic pensions.

Personal account pension = personal account storage amount ÷ months (the number of months is determined according to the retirement age and the average life expectancy of the population at that time. Calculated months are slightly equal to (average life expectancy-retirement age) X 12. At present, 50 years old is 195, 55 years old is 170, and 60 years old is 139.

This shows that the personal account pension is determined by how much you pay. The more you pay, the more you pay, but the difference is not particularly great.

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

= Average monthly salary of employees in the whole province in last year (1+ average payment index) ÷2× payment period × 1%.

In which: my indexed monthly average payment salary = last year's average monthly salary of employees in the whole province × my average payment index.

The basic pension is calculated according to the local average salary in the previous year, so it is the same.

The difference lies in personal account pension. So there are still differences between the two, and there will be more.

I hope my answer is helpful to you.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.