Many people asked Brother Bao, how much pension can I get after paying my pension insurance for 15 years? I am 40 years old this year. How much can I get from paying social security now to retirement? I started working in 1999 and paid my pension every year. How much can I get after retirement? Such problems occur quite frequently, which is related to how much money you can get when you are old, and of course there are many people who care about them. But why can no one explain this problem clearly? People from the Social Security Bureau cannot give you a clear answer. Is there something wrong with this? The people who apply for social security deliberately conceal it? This is a scam in itself, so why don’t people tell you?
cannot calculate how much money you can get for retirement. So is it up to the Social Security Bureau to decide whether it can get a pension, and how much you want to give? NO! NO! NO! The Social Security Bureau really can't take the blame.
People with this idea really don’t need to speculate on the people from the Social Security Bureau with malicious intentions, because the calculation of social pension insurance benefits is very complicated and there are many influencing factors, such as the average social salary, payment period, payment base, retirement age , personal account accumulation, etc. Specifically for each person, these parameters vary. Therefore, these factors cannot be determined before retirement and cannot calculate the retirement benefits. Furthermore, social pension insurance is a policy that spans decades and will not remain unchanged. During this period, there will inevitably be policy adjustments. The policies implemented in different periods will be different, which will affect the specific amount of money you can get after retirement. Therefore, it is reasonable to not be able to calculate how much money you get after retirement. Only when you reach the retirement age and the parameters have been determined can the Social Security Bureau calculate the accurate retirement benefits for you based on the determined parameters.
Let’s analyze how these factors affect your retirement benefits?
The calculation formula for pension after retirement is as follows:
Basic pension collection amount = basic pension + personal account pension .
where: basic pension = (((Monthly average salary of on-the-job workers in the province in the previous year + my indexed monthly average salary) ÷ 2) × 1% × payment period.
Personal account pension = personal account storage amount ÷ Personal account pension counting the number of months of issuance (different retirement age, different counting the number of months of issuance, the earlier retirement, the larger the counting the number of months of issuance)
indicators have the following effects:
1, the average monthly salary of on-the-job workers in the province in the previous year. It is closely related to the level of social development. The more society develops, the higher the average social wage, the higher the benefits you calculate when you retire. This data is published by the provincial statistical department every year and has been growing continuously in recent years.
2. I indexed the average monthly payment salary. It depends on how much social security premium you pay when you are on the job. According to the determination of the personal salary level, the minimum cannot be less than 60% of the social average salary, and the maximum cannot be higher than 300% of the social average salary. If the actual salary level is lower than or higher than the upper and lower limits, the upper and lower limits can only be the base. During the decades of working, your salary level may not be static. In some years, the base you pay is 60%, some are 100%, and some are 150%. It doesn’t matter. Adding the bases of all years and dividing them by the payment period is your indexed monthly average salary. Therefore, the higher the payment base, the higher the retirement benefits.
3. Payment period. It is the cumulative period of your social insurance payment. The longer the payment period, the higher the basic pension will naturally be.
4. Personal account storage amount. It is the accumulated amount of the part you personally bear in your past years of payment, and it is the part that the pension insurance is transferred to your personal account. The more accumulated amount, the more pension you receive.
5. The number of months of pension payment in personal account. Enterprise pension insurance 's personal account counting months went through two stages. The first stage was Document No. 26 of 1997, which stipulated that the counting months for personal accounts of retirees was 120 months; the second stage was Document No. 38 of 2005, which stipulated that the counting months for the 60-year-old, 55-year-old and 50-year-old were 139, 170 and 195 months respectively. The earlier you retire, the larger the number of months you count, the less pension you have for your personal account.
Through the above analysis, do you understand why there are more and less pensions? Welcome to tell me your thoughts and discuss them together in the comment section.
