Endowment insurance is related to each of us, and it is also an item of the social security system. How much pension do we have to pay every month? How to calculate the pension? Let's have a look!
The so-called old-age insurance (or old-age insurance system) is a social insurance system established by the state and society according to certain laws and regulations to solve the basic life of workers after reaching the labor age limit for lifting labor obligations stipulated by the state, or after they lose the ability to work and withdraw from their posts due to old age.
The payment of old insurance is made according to different grades. The insured can decide according to his payment ability and the amount he will receive in the future.
Once the insured and the unit terminate the labor contract relationship and handle the transfer procedures of social security relationship, they can renew the old-age insurance as flexible employees. However, you need to know that the first time a flexible employee pays the endowment insurance fee, he needs to hold the social security card, the endowment insurance manual and sufficient funds to pay directly at the window of the social security center.
The pension insurance unit shall bear 20% and the individual shall bear 8%; For example, if your monthly salary is 4000, your pension insurance premium of 8% * 4000 = 320 yuan will be deducted every month.
If you have paid endowment insurance for more than 15 years and reach the legal retirement age, you can enjoy the benefits of endowment insurance and receive the pension subsidized by the state every month. The specific algorithm is as follows:
Basic pension = basic pension + personal account pension + transitional pension = monthly average salary of employees in the city one year before retirement & times; 20% (15% if the payment period is less than 15 years) + principal and interest of individual account and & pide; 120 + indexed monthly average payment salary & times; Payment years before the end of 1997 & times; 1．4％。