Hangzhou Minimum Retirement Wage Standard 2024

As of March 2024, the minimum pension standard for enterprise retirees in Hangzhou is 1874 yuan per month.

Hangzhou pension standard:

1. basic salary: workers are determined according to their qualifications: length of service: 65,438+2,000 yuan, length of service: 65,438+2,300 yuan, length of service: 2,500 yuan, length of service: 2,800 yuan, length of service: 3,000 yuan, and length of service: 3,500 yuan.

2. Length of service salary (including length of service): 30 yuan every year, increasing with length of service.

3, work wage subsidies in accordance with the actual principle of payment according to work.

4. Performance pay: monthly and annual bonus (not title pay). This bonus can only account for about 10% of salary.

5. Premium allowance: All workers are recognized as outstanding workers, and there is no quota limit. If the departments at or above the county level are determined according to high standards, they will enjoy the State Council allowance and the county/municipal government allowance, without life tenure.

6. Workers' pension: every year of work 100 yuan according to the length of service. By analogy, the pension for 10 service is 1000 yuan. The pension for 20 years is 2000 yuan, the pension for 30 years is 3000 yuan, and the pension for 40 years is 4000 yuan.

Conditions for receiving a pension in Hangzhou:

1, the employees of municipal enterprises have reached the statutory normal retirement age.

2, the Ministry and provincial enterprises to participate in the basic old-age insurance in Hangzhou units insured workers reached the statutory normal retirement age.

3, municipal authorities and institutions to prepare for the insured workers to reach the statutory normal retirement age.

To sum up, the minimum retirement wage standard in Hangzhou in 2024 needs to be determined by referring to the minimum wage standard issued by the People's Government of Zhejiang Province and paying attention to the specific announcement of the human resources and social security department of Hangzhou.

Legal basis:

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

Article 13

Before employees of state-owned enterprises and institutions participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.

Article 15

The basic pension 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.