In October 2014, after the state implemented the reform of the endowment insurance system for institutions and institutions, the retirement benefits were gradually linked to the payment period and payment base, instead of being mainly linked to job rank.
If you retire one year later, the payment period will increase by one year, and the pension benefits will also be increased. As for how to improve, let us calculate based on the calculation method of basic pensions for government agencies and institutions in Zhejiang Province.
First look at the basic pension , which is mainly related to three factors: 's retirement average salary in the previous year, my average contribution index, and contribution years .
My average payment index is equal to (deemed payment period multiplied by the sum of deemed payment index + actual payment index) ÷ payment period.
The contribution index of the current year is the sum of the monthly contribution bases of the contribution year divided by the average social salary of the previous year, which is actually equivalent to the average contribution grade.
Assuming early retirement, the average contribution index is 1.5, and the contribution period is 40 years, it is easy to calculate the average salary of the previous year when the basic pension is 50%.
If you retire normally and pay pension insurance for one year according to the contribution index of 1.6, in fact, the average contribution index becomes (1.5×40+1.6)÷41. Since the contribution period has become 41 years again, when calculating the pension, the result actually becomes 51.3% of the average social wage.
In fact, it is calculated based on the floating result. If you pay according to the 60% base, you can receive 0.8% of the average social salary of the previous year if you pay the basic pension for one more year; if you pay according to the 100% base, you will pay more. For one year, the basic pension can receive 1% more of the social average salary of the previous year; if it is 300%, the corresponding basic pension is 2% of the social average salary.
In fact, the average social wage will keep changing every year,Except for the special last year, the average salary of our society will increase by more than 8% to 10% every year.
It is assumed that the local average salary for one-year late retirement is raised from 7,500 yuan to 8,250 yuan, and the payment level is 160%. In this case, the average contribution index for 40 years is 1.5, and the basic pension is 3,750 yuan; in 41 years, the basic pension is 4,232.25 yuan, and the basic pension is 482.25 yuan.
Second, is the personal account pension.
If the payment is based on a 160% base and the average salary is 7,500 yuan, the payment base is 12,000 yuan per month. In this case, the amount of money coming into the personal account is $960 per month and $11,520 per year. If you retire at the age of 60, the number of months counts is 139 months, and you can receive an extra 82.88 yuan per month for your personal account pension.
When he retired at the age of 59, the number of months calculated was actually 145 months. If he had a personal account of 30,000 yuan at that time, he could receive a personal account pension of 206 yuan per month.
Due to the one-year late retirement, the personal account of the old-age insurance will still be booked. Assuming that the bookkeeping interest rate is 6.04% in 2020, the number of months of payment will also become 139 months, and the personal account pension will become 228.86 yuan.
Therefore, if you retire late, you can receive an extra 105 yuan in personal account pension.
Third, occupational annuities. The amount of occupational annuity is 1.5 times that of individual account pension, but the bookkeeping interest rate is slightly lower, generally around 4.5%. A simple calculation means that if you retire almost a year later, you can receive an additional monthly occupational annuity of 150 yuan.
Fourth, transitional pension . Assuming that the deemed payment index is 1.5, the transition coefficient is 1.4%, and the deemed payment period is 34 years,Can receive 71.4% of the social average salary.
In fact, in this case, only late retirement affects the average social wage. Since the average social wage has increased by 750 yuan, the difference that can be formed is 535.5 yuan.
The above four parts are added together, and the difference in pension benefits can be as high as about 1270 yuan. Of course, since the above social average wage gap and contribution base are assumed to be very high, the difference in pension benefits is not small.
How much can the pension increase by one year's late retirement ? Generally speaking, according to the pension adjustment formula in various places, the retirees of government agencies and institutions generally increase by two or three hundred yuan. The overall growth rate will be lower than the average pension growth rate, which is 4.5% in 2021.
Therefore, for retirees from government agencies and institutions, if they want to receive a higher pension, it is obviously more cost-effective to retire later.
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