What does the unit endowment insurance payment base mean and how to calculate it?

The payment base of unit endowment insurance is the payment base of endowment insurance. Generally speaking, this base is mainly related to the salary base of employees themselves. The payment base of unit endowment insurance is generally calculated based on my salary income in the previous year.

First, what is the meaning of the unit pension insurance payment base?

The payment base of unit endowment insurance is the payment base of endowment insurance and the base for calculating the proportion of endowment insurance premium that should be paid now. This base is mainly related to my salary base, and has nothing to do with the future pension amount and the average social wage. But if your actual income is higher or lower than the average social wage, this base needs to be adjusted. In general, the base is the monthly payment base obtained by dividing the average annual salary of employees in the previous year by 12.

Second, how to calculate the payment base of unit endowment insurance?

Calculation of payment base of unit endowment insurance;

1. If the wage income of employees is higher than 300% of the local average wage of employees in the previous year, 300% of the local average wage of employees in the previous year will be used as the payment base;

2. If the wage income of employees is lower than 60% of the local average wage of employees in the previous year, 60% of the local average wage of employees in the previous year shall be the payment base;

3. If the employee's salary is between 300% and 60%, it shall be declared according to the facts. When it is impossible to determine the wage income of employees, the payment base shall be determined according to the local average wage of employees in the previous year published by the local labor administrative department.

Social security will verify the social security base at a fixed time every year (March or July, in different places) and release the latest minimum base and maximum base. Generally speaking, enterprises help employees pay the minimum social security. Of course, some companies will pay social security for their employees according to the average salary of the previous year.

You can check the latest social security base with the local social security bureau according to the latest release time.

3. How long is the payment period of individual endowment insurance?

Payment period of individual endowment insurance 15 years. If the individual payment period is over 15 years, the basic pension (composed of basic pension and personal account pension) will be paid monthly after retirement, and if it is less than 15 years, the basic pension will not be enjoyed after retirement, and the amount stored in personal account will be paid to me in one lump sum. I remind you that the monthly standard of basic pension at retirement is 20% of the average monthly salary of employees in the province, autonomous region, municipality directly under the central government or prefecture (city) in the previous year.