pension = basic pension+personal account pension. Personal account pension = personal account storage amount ÷ number of months. Basic pension (average monthly salary of employees in the whole province in the previous year+average monthly payment salary indexed by myself) ÷2× payment period× 1% = average monthly salary of employees in the whole province in the previous year (1+ average payment index by myself) ÷2× payment period× 1%.
1. Personal accounts are fully accumulated.
In social security accounts, there are "overall account" and "personal account". The payment base is the average salary of local employees in the previous year, and the unit's contribution is equivalent to 2% of the payment base, which is entered into the social overall account. The fee paid by an individual is equivalent to 8% of the payment base, which is paid into an individual account and withheld and remitted by the unit every month. Among them, the individual account is fully accumulated, and the funds include individual contributions and investment income.
2. Calculation method of pension
When an individual receives a pension, the calculation method of the payment part of the overall account is "the average social salary of the year before receiving the pension × (the payment period× 1%)", and the calculation method of the withdrawal part of the individual account is "the accumulated amount of the account ÷ (the average life expectancy at retirement× 12)". However, in personal accounts, due to the annual payment changes and the uncertainty of compound interest calculation of investment income, the calculation is more complicated.
How to inquire about personal account pension
1. Telephone inquiry: The national unified service hotline of China's Social Security Bureau is 12333. If you want to inquire about personal account pension, you can dial 12333 directly and follow the voice prompts. You can also transfer it to manual customer service and ask the staff to help you with the inquiry.
2. Offline inquiry: You can directly bring your social security card and ID card, go to the local social security agency, and ask the staff to help you check the pension balance in your personal account at the pension window. At the same time, many social security agencies will set up self-service inquiry machines in the lobby, and everyone can also make inquiries through the self-service inquiry machine. There will be staff on duty at the scene, so you can ask them directly if you don't understand anything.
If the insured person has paid the old-age insurance for a period of time that meets the minimum requirements, and his age also meets the requirements, he can receive a monthly pension, and part of the pension is composed of a personal account pension. If the insured person's age meets the requirements, the payment period has not reached the minimum requirements, and he is unwilling to continue to pay, he can apply to withdraw the balance from his personal account. If the insured decides to settle abroad, he can apply to withdraw the balance from his personal account before going abroad. If the insured person dies unfortunately before receiving the pension, or after receiving the pension, as long as there is a balance in his personal account, he can apply for withdrawal.
Legal basis:
Article 11 of the Social Insurance Law of the People's Republic of China
The basic old-age insurance combines social pooling with individual accounts.
The basic old-age insurance fund consists of contributions from employers and individuals and government subsidies.
article 12 an employer shall pay the basic old-age insurance premium in proportion to the total wages of its employees as stipulated by the state and record it in the basic old-age insurance pooling fund.
employees should pay the basic old-age insurance premium according to the proportion of their salary 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 account respectively.