2024: The latest regulations on employee retirement!

Source: China Accounting News Agency, China Law Popularization, Yi Personnel, and local human resources and social security bureaus

How much is the pension according to the minimum standard of contributions? If I haven't paid social security for 15 years, is there a pension? Regarding the retirement of employees, you need to understand these regulations!

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How much pension can I receive after retirement?

Article 15 of the Social Insurance Law of the People's Republic of China stipulates that the basic pension consists of a pooled pension and a personal account pension. The basic pension is determined according to factors such as the cumulative number of years of individual contributions, the contribution salary, the average salary of local employees, the amount of personal accounts, and the average life expectancy of the urban population.

So how is it calculated? The policies of each region are slightly different, and the following three regions are taken as examples: Fuzhou, Chengdu and Hangzhou:

Reminder: The transitional pension is only available to those who are insured in the early stage, and the regulations are different in various places, so you can consult the 12333 in the place of insurance.

Before the establishment of the pension insurance system, the pension system of the unit is implemented for the pension of employees, and the retirement allowance is calculated by the unit before retirement according to the continuous length of service of the employee, and the unit is responsible for the payment. The longer the length of service, the higher the proportion of retirement allowance, which can reach 90% of the original salary.

In 1995, the State Council promulgated the Notice on Deepening the Reform of the Pension Insurance System for Enterprise Employees, which determined the establishment of a new model of pension insurance combining social pooling and individual accounts. Pension contributions are generally a combination of unit contributions and individual contributions.

• A portion of the money is transferred to the pooled fund to pay the pensions of retirees;

● The personal account adopts the accumulation system, that is, the more the personal account pays, the more the corresponding pension, and the personal account is withdrawn according to the salary ratio, which is related to the level of personal salary.

In general, the longer the contribution period and the larger the contribution base, the more pension you will receive after retirement.

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Statutory retirement age for employees

According to national regulations, retirement includes normal retirement, early retirement, etc., and the retirement age for men and women and the retirement age for each position are different. For details, you can directly refer to the following table:

(The content of the form is stipulated by the state, and the specific policy is subject to local policies)

According to Article 16 of the Social Insurance Law of the People's Republic of China, if an employee wants to receive a pension, he or she needs to meet two conditions, both of which are indispensable.

❶ Reach the statutory retirement age

❷ Pension insurance has been paid for 15 years

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The pension of flexibly employed workers follows

What standard?

According to the regulations, flexibly employed persons who participate in the basic old-age insurance for urban employees can receive a pension on a monthly basis if they are at least 60 years old and 55 years old for women, and have paid contributions for 15 years or more. Some people only note that "a pension can be received after 15 years of cumulative contributions", but it does not pay attention to the need to reach retirement age.

But in fact, after 15 years, you are only eligible for a pension, but you cannot receive it. However, if you have completed 15 years, you will be able to enjoy the pension at the age of 60 even if you do not pay any more contributions after that, but the pension level will be relatively low.

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Employees are still required to continue to pay after 15 years of contributions

According to the Labor Law of the People's Republic of China, employers and workers must participate in social insurance and pay social insurance premiums in accordance with the law.

The Social Insurance Law of the People's Republic of China stipulates that employees shall participate in the basic pension insurance, and the employer and the employee shall jointly pay the basic pension insurance premiums. Individually-owned businesses without employees, part-time employees who have not participated in the basic pension insurance at the employer, and other flexibly employed persons may participate in the basic pension insurance, and the basic pension insurance premiums shall be paid by the individual.

According to the above provisions, if you are an active employee, you need to continue to pay social security contributions after 15 years. This is a mandatory provision and a right of employees. Employees are required to pay due.

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What should I do if the pension payment period is less than 15 years?

So what should I do if I reach retirement age and the employee pension insurance has not been paid for 15 years? It can be handled in the following three ways.

Extension of contributions to 15 years

When the insured person reaches the retirement age, the employee pension insurance payment is less than 15 years, and the payment can be extended to 15 years in the place where the benefit is received in accordance with the relevant provisions of the state.

Transferred to the pension insurance for urban and rural residents

Insured persons can apply for transfer from employee pension insurance to urban and rural residents' pension insurance, and enjoy urban and rural residents' pension.

Surrender

If it has not been transferred to the pension insurance for urban and rural residents, the individual may apply in writing to terminate the employee pension insurance relationship. In accordance with the procedures, the social security agency shall terminate the employee's pension insurance relationship and pay the deposit amount in the personal account to the person in a lump sum after confirmation by the person.