Pension follows the rule that the more you pay, the more you get. There are two main factors that affect pension payment. One is the payment base. The payment base of endowment insurance is based on the average salary of employees in the previous period. That is to say, the higher the employee's salary is, the larger the payment base is. Of course, there are minimum and maximum limits in each payment base. When the payment base is larger, the higher the endowment insurance cost will be, and the more the payment will be naturally. The second is the payment period. Endowment insurance is paid monthly, and the natural cost of each additional month will increase cumulatively.
Endowment insurance payment is divided into individual and enterprise units. Enterprise units pay 20% of the payment base (19% in some areas), and enter the social pooling account to pay for the pension of retirees, while individual employees pay to enter the individual account pension. After retirement, the amount of pension in the individual account directly affects the pension. Therefore, the more natural accounts pay, the more pension after retirement The more.
However, it is not certain that the more contributions are made, the more pensions will be received. The reason is that there are not only several factors affecting pension mentioned above, but also regional social average salary. In the process of retirement, the choice of retirement place is particularly important, but it is not optional. There are no other conditions for retirement only in the place where the household registration is located, but for retirement in a different place, it is necessary to participate in the retirement place for 10 years or more before retirement in a different place is allowed. The higher the average wage of the employees in the region is, the higher the increase is, the higher the pension will be.
In addition, retirement age also affects pensions. The earlier the retirement is, the greater the calculation coefficient is. Therefore, some people who meet the requirement of early retirement choose early retirement, which will directly affect the amount of pension because of the early retirement time and less payment accumulation. The retirement coefficient of 50 years old is 195, while that of 60 years old is 139. Because the coefficient is inversely proportional to the pension, the smaller the coefficient is, the older the retirement age is, the more the pension will be.
Generally speaking, the factors that affect pension are payment base, payment period, individual account pension, retirement period and average salary of local employees. Therefore, the more the pension contribution is, the more they will get, but when there is a difference between the two contributions, the retirement age and the average wage will also lead to more pension for those who pay less.