Is there a big difference in pensions between 15 years of social security paymen
Recently, news about delaying retirement has been constantly flooding social media feeds. In fact, the idea of delaying retirement was first proposed by experts and scholars as early as 2012, mainly considering the aging population trend in our country, and the increasing pressure of providing pensions for the elderly in the future.
A friend asked, if the retirement age is delayed by 5 years, and the minimum pension insurance payment requirement is raised from 15 years to 20 years, would the gap in pensions be very significant?
Pension Calculation Formula.
Currently, the pension generated from participating in the pension insurance mainly consists of two parts: the basic pension and the personal account pension.
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① The basic pension is equal to the social average wage of the year before retirement × (1 + the individual's average payment index) ÷ 2 × the number of years of payment × 1%.
② The personal account pension is equal to the balance of the individual's pension insurance account at retirement ÷ the number of months determined by the retirement age.
How to calculate the pension after paying for 15 years?
Generally, after 15 years of social security payments, most people pay at the minimum level of 60%, so the average index is around 0.6.
Based on the above two conditions, for the basic pension part, one can receive 12% of the social average wage of the year before retirement.The average social wage currently ranges from 6,500 yuan to 12,000 yuan across various regions. The average social wage changes annually, but for simplicity, let's assume the average social wage at retirement is 10,000 yuan. Thus, the basic pension part would be 1,200 yuan per month.
For the personal account pension part, the key factor is the balance in the individual's pension insurance account. With an average social wage of 10,000 yuan and a minimum base of 6,000 yuan, the personal account can accumulate 480 yuan per month, and 5,760 yuan per year. Since contributions are continuous, the balance formed by looking back would be even lower, but the accounting interest rate is lower than the wage growth rate. For simplicity, let's calculate based on 15 times 5,760 yuan, which results in 86,400 yuan.
What is the retirement age? Taking the example of a woman retiring at 50, the number of months for pension payment is 195. After calculation, the monthly personal account pension is 443 yuan.
Combining these two parts of the pension, the total monthly pension is 1,643 yuan. This is the pension one can receive after paying at the 60% level for 15 years, with an average social wage of 10,000 yuan.
How much pension can one receive after paying for 20 years?
After paying for 20 years, still at the 60% level. In this case, the basic pension part can receive 16% of the average social wage, which amounts to 1,600 yuan per month.
For the personal account pension part, since there are an additional 5 years of contributions, the personal account balance will accumulate for 5 more years (28,800 yuan), and for 20 years, the personal account balance would be 115,200 yuan. However, we have not considered the interest during these 5 years. Assuming the interest over 5 years could reach 20%, the estimated personal account balance at that time would be 138,000 yuan.
The number of months for pension payment at 50 years old is 195, and at 55, it would be 170. Of course, it should be mentioned here that according to the 14th Five-Year Plan for the development of human resources and social security, our personal account payment month system will be revised and improved. This is because our current payment month number is calculated based on factors such as the average life expectancy of urban residents in 2000, which indeed is no longer practical. In the future, the calculation of the pension payment month number may not be the current value.
Still, let's calculate based on 55 years old with 170 months, the monthly personal account pension would be 813 yuan.Adding the two parts together, the monthly pension benefit amounts to 2613 yuan. Compared to paying for 15 years, the pension can be approximately 770 yuan/month more.
Such a gap in pensions is indeed significant, and after retirement, if the pension can be adjusted annually, the longer the payment period and the higher the pension level, the greater the increase in money will be, and the gap will only widen.
Additionally, delaying retirement will promote the principles of voluntariness and flexibility, and everyone may have more freedom to choose. If one chooses to retire early, the pension will certainly be affected. Therefore, to ensure a sufficient pension benefit, it is better to try to ensure a longer payment period. #Top Headline Creation Challenge# #Pension Calculation#
Recently, news about delaying retirement has been constantly flooding social media feeds. In fact, the idea of delaying retirement was first proposed by experts and scholars as early as 2012, mainly considering the aging population trend in our country, and the increasing pressure of providing pensions for the elderly in the future.
A friend asked, if the retirement age is delayed by 5 years, and the minimum pension insurance payment requirement is raised from 15 years to 20 years, would the gap in pensions be very significant?
Pension Calculation Formula.
Currently, the pension generated from participating in the pension insurance mainly consists of two parts: the basic pension and the personal account pension.
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① The basic pension is equal to the social average wage of the year before retirement × (1 + the individual's average payment index) ÷ 2 × the number of years of payment × 1%.
② The personal account pension is equal to the balance of the individual's pension insurance account at retirement ÷ the number of months determined by the retirement age.
How to calculate the pension after paying for 15 years?
Generally, after 15 years of social security payments, most people pay at the minimum level of 60%, so the average index is around 0.6.
Based on the above two conditions, for the basic pension part, one can receive 12% of the social average wage of the year before retirement.The average social wage currently ranges from 6,500 yuan to 12,000 yuan across various regions. The average social wage changes annually, but for simplicity, let's assume the average social wage at retirement is 10,000 yuan. Thus, the basic pension part would be 1,200 yuan per month.
For the personal account pension part, the key factor is the balance in the individual's pension insurance account. With an average social wage of 10,000 yuan and a minimum base of 6,000 yuan, the personal account can accumulate 480 yuan per month, and 5,760 yuan per year. Since contributions are continuous, the balance formed by looking back would be even lower, but the accounting interest rate is lower than the wage growth rate. For simplicity, let's calculate based on 15 times 5,760 yuan, which results in 86,400 yuan.
What is the retirement age? Taking the example of a woman retiring at 50, the number of months for pension payment is 195. After calculation, the monthly personal account pension is 443 yuan.
Combining these two parts of the pension, the total monthly pension is 1,643 yuan. This is the pension one can receive after paying at the 60% level for 15 years, with an average social wage of 10,000 yuan.
How much pension can one receive after paying for 20 years?
After paying for 20 years, still at the 60% level. In this case, the basic pension part can receive 16% of the average social wage, which amounts to 1,600 yuan per month.
For the personal account pension part, since there are an additional 5 years of contributions, the personal account balance will accumulate for 5 more years (28,800 yuan), and for 20 years, the personal account balance would be 115,200 yuan. However, we have not considered the interest during these 5 years. Assuming the interest over 5 years could reach 20%, the estimated personal account balance at that time would be 138,000 yuan.
The number of months for pension payment at 50 years old is 195, and at 55, it would be 170. Of course, it should be mentioned here that according to the 14th Five-Year Plan for the development of human resources and social security, our personal account payment month system will be revised and improved. This is because our current payment month number is calculated based on factors such as the average life expectancy of urban residents in 2000, which indeed is no longer practical. In the future, the calculation of the pension payment month number may not be the current value.
Still, let's calculate based on 55 years old with 170 months, the monthly personal account pension would be 813 yuan.Adding the two parts together, the monthly pension benefit amounts to 2613 yuan. Compared to paying for 15 years, the pension can be approximately 770 yuan/month more.
Such a gap in pensions is indeed significant, and after retirement, if the pension can be adjusted annually, the longer the payment period and the higher the pension level, the greater the increase in money will be, and the gap will only widen.
Additionally, delaying retirement will promote the principles of voluntariness and flexibility, and everyone may have more freedom to choose. If one chooses to retire early, the pension will certainly be affected. Therefore, to ensure a sufficient pension benefit, it is better to try to ensure a longer payment period. #Top Headline Creation Challenge# #Pension Calculation#