Basic pension = the average monthly salary of local employees in the previous year when I retire ×20%.
When the cumulative payment period is 15 years, if you retire at the age of 65, you can still receive a pension of about 20 years (provided that you live to 85 years old). Based on this calculation, the length of time you can receive a pension is 20× 12 months =240 months.
The base is mainly related to my salary base, and has nothing to do with the future pension amount and the average social wage. However, if the actual income is higher or lower than the average social wage, this base needs to be adjusted.
Moreover, the staff who have made great contributions to the honorary title of senior experts will be given a one-time reward when they are on the job, and the proportion of basic retirement fees will not be increased when they retire. The funds required for the award shall not be paid from the endowment insurance fund, and the funds required for the award shall be paid by the reward unit or the designated channel of the unit.
Extended data:
The legal retirement age of enterprise employees in China is:
Men are over 60 years old, women workers are over 50 years old and women cadres are over 55 years old. Engaged in underground, high altitude, high temperature, particularly heavy manual labor or other jobs harmful to health (hereinafter referred to as special jobs), the retirement age is 55 years old for men and 45 years old for women.
The endowment insurance for enterprise employees includes basic endowment insurance and enterprise annuity. The basic old-age insurance ensures fairness, and the enterprise annuity reflects the incentive during the working period. The original intention of basic old-age insurance is to meet people's basic living needs, so the replacement rate of basic old-age insurance is not high, and it can only be maintained after enterprise annuity.
Baidu Encyclopedia-Measures for the implementation of the reform of the endowment insurance system for staff of government agencies and institutions in Shandong Province
Baidu encyclopedia-pension base