Social security pension collection formula

The calculation method of pension is as follows:

(1), pension = basic pension+personal account pension;

(2), 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.

(3) Basic pension

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

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

(4) In the formula: my indexed monthly average payment salary = the average monthly salary of employees in the whole province last year × my average payment index.

Social security pension conditions

First of all, you must reach the legal retirement age.

(a) workers in enterprises and institutions owned by the whole people, party and government organs and mass organizations shall retire if they meet one of the following conditions. 1, male over 60 years of age, female over 50 years of age, accumulated service 10 years or more; 2. The male is over 55 years old and the female is over 45 years old, with a cumulative length of service of 10 years, engaged in underground, high altitude, high temperature, particularly heavy manual labor or other jobs harmful to health; 3. Men over 50 years of age and women over 45 years of age, with accumulated length of service of 10 years, should be allowed to retire after being certified by the hospital and confirmed by the labor appraisal committee.

(2) Cadres of party and government organs, mass organizations, enterprises and institutions may retire if they meet one of the following conditions. 1, male over 60 years old, female over 55 years old, participated in revolutionary work 10 years; 2, men over 50 years of age, women over 45 years of age, to participate in the revolutionary work experience 10 years, proved by the hospital completely lost the ability to work; 3, because of work disability, proved by the hospital completely lost the ability to work.

Second, the endowment insurance must be paid for 15 years.

The payment here refers to the cumulative payment period, not the continuous payment 15 years. If it is interrupted halfway, it will not affect the retirement pension, but if the payment period is reduced, it will affect the specific pension amount. The longer the payment time, the more money will be received.

But what if you have reached the legal retirement age, but the pension insurance payment period is less than 15 years? Different regions have slightly different policies. Beijing's policy is that if you have a local account, you can renew it. If the delay is less than 15 years after 5 years, it can be paid in one lump sum, but the expenses must be borne by itself. If it is a foreign household registration, but the social security has been paid locally for 10 years, it can also be renewed and paid in one lump sum; However, if it is a foreign household registration, if the social security payment in the local area is insufficient 10 years, you can only go back to your hometown to renew or pay back, and you can only go back to your hometown to receive a pension.

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