The monthly calculation and payment standard of personal account pension is the total amount of personal account divided by 139 (the same as the current calculation and payment coefficient of personal account pension of basic old-age insurance for urban employees). When the insured dies, the balance of personal account funds can be inherited according to law, except for government subsidies; The balance of government subsidies is used to continue to pay the pensions of other insured persons.
The pension benefits of the new rural insurance are composed of basic pension and personal account pension, which are paid for life.
Generally speaking, the pension payment standard is closely related to two standards: one is the payment base, and the other is the payment period (before retirement, the pension can be paid). According to the latest pension calculation method, employees' retirement pension consists of two parts: pension = basic pension+personal account pension = personal account pension = personal account storage amount ÷ months (the number of months is calculated according to the retirement age and the average life expectancy of the population at that time), and the calculated months are slightly equal to (average life expectancy-retirement age) X 12. At present, 50 years old is 195, 55 years old is 170, and 60 years old is 139. No longer unified is 120) basic pension = (last year's average monthly salary of employees in the province+my average monthly payment salary) ÷2× payment period × 1%= last year's average monthly salary of employees in the province (1+ my average monthly payment index) ÷2× payment period ×65438. As can be seen from the above formula, under the same payment period, the basic pension depends on the individual's average payment index, that is, the historical average of the ratio of his actual payment base to the average social wage. The lower limit is 0.6 and the upper limit is 3. Therefore, in the two kinds of calculation of pension, no matter what the situation, the higher the payment base and the longer the payment period, the higher the pension. Pensions are fixed indefinitely. As long as the recipient is alive, he can enjoy a monthly pension. Even if the personal account pension has been used up, he will continue to pay the basic pension according to the original standard. Moreover, personal pension will increase year by year with the increase of the average monthly salary of employees in society. Therefore, the longer you live, the more you can get, which is definitely more cost-effective than paying.
Legal basis:
Article 16 of the Social Insurance Law of People's Republic of China (PRC) * * * Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid for fifteen years at the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.
People's Republic of China (PRC) social insurance law
Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of 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.