If you pay 10,000 yuan in pension insurance in 2024, how much money can you get
Pension insurance achieved its 20th consecutive increase in 2024, with a growth rate of only 3%, which is still much higher than the 0.3% increase in the price level. Moreover, receiving a pension upon retirement can effectively avoid the risk of unemployment, with a regular and full pension available every month.
Are some friends still unfamiliar with the pension insurance system? Do they think that participating in pension insurance is just about receiving a pension after retirement, and what if they pass away before retirement, wouldn't they lose everything?
The current pension insurance contribution base in Shandong Province is 4,242 yuan, with a monthly payment of 848.4 yuan, amounting to 10,180.8 yuan per year. If one pays for a year and then passes away, how much pension benefits can they receive?
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The benefits that can be received by participating in pension insurance are not only pensions but also three major categories of benefits:
① Balance of the individual account in pension insurance. By participating in pension insurance, 8% of the monthly contribution base will be credited to the individual account. According to the Social Insurance Law, the balance of the individual account in pension insurance is inheritable.
There was an old lady who said that after her husband passed away, all the years of pension insurance contributions should be inherited by her, and then she should be given a pension. This is not the case; inheritance is returned to the heir in cash, not added to the heir's individual pension insurance account or transferred to the payment record.
The balance of the individual account, if contributions are made based on a base of 4,242 yuan, can accumulate 339.36 yuan per month in the individual account, which is 4,072.32 yuan per year.
Of course, the individual account will also calculate interest, and the accounting interest rate has been uniformly announced by the state since 2016. From 2016 to 2023, the accounting interest rate ranged from 8.31% to 3.97%. This is much more cost-effective than saving in a bank.
If one passes away after paying pension insurance for a year, since the employee only contributes 8% of the contribution base, this will definitely not result in a loss. If it is a self-employed person, the contribution ratio is generally 20%, and if 8% of this part can be inherited, it is equivalent to a 40% guarantee of not losing the principal.②Funeral subsidy, this is a sum of money used for the burial of the insured person. There is a unified national standard requirement, which is twice the per capita disposable income of urban residents in the province where the deceased was located in the year before their death. In the past, the standards in different places were not unified, and there were even significant differences. It was not until 2021, in accordance with the "Interim Measures for the Treatment of Survivors of Basic Old-age Insurance for Enterprise Employees," that such regulations were implemented.
Last year, the per capita disposable income in Shandong Province was 4,297.58 yuan, so the funeral subsidy is 8,595.16 yuan.
③Condolence money. The state does not provide monthly condolence benefits to the families of insured workers who have passed away, but instead provides a one-time payment. For employees who have not yet retired and have passed away:
- Those with a contribution period of less than 5 years receive three months of the per capita disposable income of urban residents, which is currently 12,892.74 yuan in Shandong Province.
- Those with a contribution period of 5 years but less than 10 years receive six months.
- Those with a contribution period of 10 years but less than 15 years receive nine months.
- Those with a contribution period of more than 15 years receive nine months, plus an additional month for each extra year of contribution beyond 15 years. It is not calculated in whole years; for example, 15 years and 6 months of contribution would result in a payment for 9.5 months, and 15 years and 9 months would result in a payment for 9.75 months.
- Those with a contribution period exceeding 30 years are calculated based on 30 years, which means the maximum payment is for 24 months.
Many people might think that after paying 10,000 yuan for a year of contributions, they can receive the funeral subsidy and condolence money equivalent to five months of the per capita disposable income of urban residents. In Shandong Province, five months of the per capita disposable income standard exceeds 21,000 yuan. When you also consider the balance in the individual's account, doesn't it seem like a very profitable deal?The state has also established a special situation where if the insured person's accumulated payment period is less than 5 years, the survivor benefits standard shall not exceed the sum of individual payments (for flexible employment personnel, it is calculated based on the recorded part of the individual account).
In this case, for flexible employment personnel, the cost of paying for one year in Shandong Province is 10,180.8 yuan. In the unfortunate event of their passing, their family can inherit the balance of the individual account, which is 4,072.32 yuan (not considering interest). Additionally, they can receive a funeral allowance and a consolation payment of 4,072.32 yuan. Therefore, even if one does not receive a pension, it is at least guaranteed to get back more than 80% of the investment. #Top Headline Creation Challenge# #Pension Knowledge#
Pension insurance achieved its 20th consecutive increase in 2024, with a growth rate of only 3%, which is still much higher than the 0.3% increase in the price level. Moreover, receiving a pension upon retirement can effectively avoid the risk of unemployment, with a regular and full pension available every month.
Are some friends still unfamiliar with the pension insurance system? Do they think that participating in pension insurance is just about receiving a pension after retirement, and what if they pass away before retirement, wouldn't they lose everything?
The current pension insurance contribution base in Shandong Province is 4,242 yuan, with a monthly payment of 848.4 yuan, amounting to 10,180.8 yuan per year. If one pays for a year and then passes away, how much pension benefits can they receive?
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The benefits that can be received by participating in pension insurance are not only pensions but also three major categories of benefits:
① Balance of the individual account in pension insurance. By participating in pension insurance, 8% of the monthly contribution base will be credited to the individual account. According to the Social Insurance Law, the balance of the individual account in pension insurance is inheritable.
There was an old lady who said that after her husband passed away, all the years of pension insurance contributions should be inherited by her, and then she should be given a pension. This is not the case; inheritance is returned to the heir in cash, not added to the heir's individual pension insurance account or transferred to the payment record.
The balance of the individual account, if contributions are made based on a base of 4,242 yuan, can accumulate 339.36 yuan per month in the individual account, which is 4,072.32 yuan per year.
Of course, the individual account will also calculate interest, and the accounting interest rate has been uniformly announced by the state since 2016. From 2016 to 2023, the accounting interest rate ranged from 8.31% to 3.97%. This is much more cost-effective than saving in a bank.
If one passes away after paying pension insurance for a year, since the employee only contributes 8% of the contribution base, this will definitely not result in a loss. If it is a self-employed person, the contribution ratio is generally 20%, and if 8% of this part can be inherited, it is equivalent to a 40% guarantee of not losing the principal.②Funeral subsidy, this is a sum of money used for the burial of the insured person. There is a unified national standard requirement, which is twice the per capita disposable income of urban residents in the province where the deceased was located in the year before their death. In the past, the standards in different places were not unified, and there were even significant differences. It was not until 2021, in accordance with the "Interim Measures for the Treatment of Survivors of Basic Old-age Insurance for Enterprise Employees," that such regulations were implemented.
Last year, the per capita disposable income in Shandong Province was 4,297.58 yuan, so the funeral subsidy is 8,595.16 yuan.
③Condolence money. The state does not provide monthly condolence benefits to the families of insured workers who have passed away, but instead provides a one-time payment. For employees who have not yet retired and have passed away:
- Those with a contribution period of less than 5 years receive three months of the per capita disposable income of urban residents, which is currently 12,892.74 yuan in Shandong Province.
- Those with a contribution period of 5 years but less than 10 years receive six months.
- Those with a contribution period of 10 years but less than 15 years receive nine months.
- Those with a contribution period of more than 15 years receive nine months, plus an additional month for each extra year of contribution beyond 15 years. It is not calculated in whole years; for example, 15 years and 6 months of contribution would result in a payment for 9.5 months, and 15 years and 9 months would result in a payment for 9.75 months.
- Those with a contribution period exceeding 30 years are calculated based on 30 years, which means the maximum payment is for 24 months.
Many people might think that after paying 10,000 yuan for a year of contributions, they can receive the funeral subsidy and condolence money equivalent to five months of the per capita disposable income of urban residents. In Shandong Province, five months of the per capita disposable income standard exceeds 21,000 yuan. When you also consider the balance in the individual's account, doesn't it seem like a very profitable deal?The state has also established a special situation where if the insured person's accumulated payment period is less than 5 years, the survivor benefits standard shall not exceed the sum of individual payments (for flexible employment personnel, it is calculated based on the recorded part of the individual account).
In this case, for flexible employment personnel, the cost of paying for one year in Shandong Province is 10,180.8 yuan. In the unfortunate event of their passing, their family can inherit the balance of the individual account, which is 4,072.32 yuan (not considering interest). Additionally, they can receive a funeral allowance and a consolation payment of 4,072.32 yuan. Therefore, even if one does not receive a pension, it is at least guaranteed to get back more than 80% of the investment. #Top Headline Creation Challenge# #Pension Knowledge#