Individual contributions to pension insurance began in October 1992.

The deemed payment period refers to: Before the implementation of the basic pension insurance premium system for fixed employees and individual employees, the time calculated as continuous service according to national regulations can be regarded as the "deemed payment period", and can

The pension insurance benefits will be calculated and paid together with the actual "payment years".

In addition, after formal employees of government agencies and institutions are transferred to the enterprise, they should participate in the enterprise's employee basic pension insurance, and their original working years are regarded as the payment years; demobilized veterans and educated youths who go to the countryside from cities and towns are recruited as contract workers and participate in the

For basic pension insurance, the years of military service and the period of going to the countryside are calculated as continuous service years according to national regulations, and can be regarded as the same as the payment period.

The role of pension insurance: Social pension insurance is a universal social welfare provided by the state to citizens. It can provide citizens with the most basic retirement life and medical and health protection.

1. Payment base: Lower line: 40% of the average monthly salary of employees in the previous year (1680), upper line: 300% of the average monthly salary of employees in the previous year (12603); 2. Payment ratio: 20% borne by the company and 8 borne by the individual

% (8% goes into the personal account) The personal account savings can only be used for the insured’s pension and cannot be withdrawn in advance.

After the death of the insured, the basic pension insurance premiums paid by the individual and the interest in the personal account deposit or balance can be inherited in accordance with the law, and the remaining portion is merged into the basic pension insurance fund.

3. Conditions for receiving monthly pensions: ① Once the retirement conditions stipulated by the state are met and relevant procedures are completed; ② The cumulative payment period of basic pension insurance premiums has been paid in accordance with regulations for 15 years.

4. What parts does the pension consist of: ① For the insured who started working after July 1, 1998 and meets the conditions for receiving basic pension on a monthly basis, the basic pension is composed of basic pension and personal account pension.

The monthly standard of basic pension is based on the average monthly salary of employees in the city in the previous year and the average indexed monthly salary of the employee, and 1% will be paid for every full year of payment.

The monthly pension standard for personal accounts is the amount saved in the personal account divided by the number of calculation months stipulated by the state.

② The insured who started working before June 30, 1998 and meets the conditions for receiving basic pension on a monthly basis after January 1, 2006 will receive a transitional pension in addition to the basic pension and personal account pension on a monthly basis.

pension.

Specific transition measures shall be formulated by the municipal labor and social security administrative department and shall be implemented after approval by the Municipal People's Government.

5. The main factors affecting pensions: the average social salary in the previous year at the time of retirement, length of service, actual payment base in each year, personal account storage amount, and payment years.

The above is the legal basis for the year when the pension insurance started: Article 10 of the "Social Insurance Law of the People's Republic of China": Employees shall participate in basic pension insurance, and the employer and employee *** shall jointly pay the basic pension insurance.

fee.

Individual industrial and commercial households without employees, part-time employees who have not participated in basic pension insurance in the employer, and other flexible employment personnel can participate in basic pension insurance, and the basic pension insurance premiums are paid by individuals.