The retirement salary of employees when they retire consists of two parts, namely, retirement salary = basic salary+personal account retirement salary, basic retirement salary = average monthly salary of employees in the province last year, average payment salary divided by two times the payment period multiplied by one percent = average monthly salary of employees in the province last year, and average payment index divided by twice the payment period multiplied by one percent of personal account retirement salary is equal to the amount stored in personal account divided by the number of months. The salary of retirees has little to do with the amount of pension paid, but with the money in the individual pension insurance account; Personal social security payment base is high, the payment period is long, and the personal pension insurance account has more money, so the retirement salary is high. The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.
Pensions and retirement wages are not the same thing. The difference between retirement salary and pension is as follows:
1, with different concepts;
(1) Retirement pension is a monthly or lump-sum insurance benefit paid by the state according to the provisions of the social insurance system, after the workers are old or lose their ability to work, according to the contributions of the parties to society and the qualifications of old-age insurance or retirement conditions, which is mainly used to protect the basic needs of workers after retirement;
(2) The full name of endowment insurance is social basic endowment insurance, which is a social insurance system established by the state and society according to certain laws and regulations to solve the basic life of workers who reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age;
2. Different funding channels;
(1) Pensions are generally paid by the state finance or local finance, and the retirement benefits of retirees (such as civil servants and personnel of institutions, excluding enterprises managed by institutions) who have not participated in social pooling of endowment insurance are called pensions or retirement living expenses;
(2) Pensions are paid by social insurance funds, and the retirement benefits of retirees who participate in social pooling of endowment insurance are collectively referred to as pensions;
3. Different payment methods;
(1) Pensions are provided by individuals or enterprises and can be enjoyed without the beneficiary's payment;
(2) Social endowment insurance premiums are generally withheld and remitted by the insured units, part of which is turned over to the state and part of which is deposited in personal accounts. The payment standard of social endowment insurance often follows a unified payment standard;
4. Different collection methods;
(1) Pension payment can be divided into one-time payment and installment payment. The former refers to the one-time payment of pension after retirement, and the enterprise has no obligation to pay after retirement, while the latter refers to the payment of pension by stages after retirement until death, such as monthly or annual payment of pension;
(2) Social endowment insurance is uniformly distributed by government departments and institutions, and every member of society has unified rules for receiving pensions.
I hope the above content can help you. Please consult a professional lawyer if you have any other questions.
Legal basis: People's Republic of China (PRC) Social Insurance Law.
Tenth employees should participate in the basic old-age insurance, and employers and employees should pay the basic old-age insurance premium. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance. Measures for civil servants and individuals who refer to the management of civil servants to pay the basic old-age insurance premiums shall be formulated by the State Council.
Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.