What is the duration of the transitional pension?

Transitional endowment insurance from 20 14 to 2024. In the process of implementing the pension integration plan in various provinces, many provinces proposed to set up a transition period of 10 year, during which the old and new treatment methods were compared to ensure the low and limit the high.

Calculating the pension before the "middleman" establishes a personal account is called a transitional pension. Transitional pension is an integral part of the basic pension for middle-aged people after the unified system. For those who retired after working before the new system (or "unified accounting"), because their previous working years did not have personal accounts, the amount of personal account storage at retirement failed to reflect the labor contribution during this period, so their basic pension at retirement can not be simply calculated by adding personal account pension to basic pension, but should be added with pension without personal account. Transitional pension has solved the problem of providing for the aged without personal account years.

Endowment insurance is a social insurance system established by the state in accordance with relevant laws and regulations to ensure that workers reach the working age limit stipulated by the state, terminate their labor obligations or retire from their jobs because of old age. The purpose is to ensure the basic needs of the elderly through social insurance and provide them with a stable and reliable source of life.

Old-age insurance will take effect automatically after the elderly within the legal scope "completely" or "basically" withdraw from social labor life. The so-called "complete" is characterized by the separation of workers from the means of production; The so-called "basic" means that participation in production activities has not become the main content of social life. The legal age limit is a practical measure.

At the same time, the insured can only meet the following two conditions: (1) meeting the retirement conditions stipulated by the state and handling relevant procedures; According to the provisions of the basic old-age insurance premium accumulated payment period of 15, approved by the administrative department of labor and social security, can receive a monthly basic pension and funeral subsidies.

The basic old-age insurance premium is paid jointly by the enterprise and the insured according to different payment ratios.

legal ground

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

Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law in case of old age, illness, industrial injury, unemployment and maternity. Article 3 The social insurance system adheres to the principles of wide coverage, basic protection, multi-level and sustainability, and the level of social insurance should be compatible with the level of economic and social development. Article 4 Employers and individuals in People's Republic of China (PRC) shall pay social insurance premiums according to law, and have the right to inquire about payment records and personal rights and interests records, and ask social insurance agencies to provide social insurance consultation and other related services.

Individuals enjoy social insurance benefits according to law and have the right to supervise the payment of their own units.