According to the provisions of the Social Insurance Law of the People's Republic of China, individuals who participate in basic pension insurance and have paid contributions for 15 years when they reach the statutory retirement age shall receive a basic pension on a monthly basis. The basic pension is a combination of the overall plan and the personal account, of which the pension payment standard of the overall plan is 12% of the payment base, and the payment standard of the personal account pension is the amount of personal account storage divided by the number of months.
In addition, in terms of pension collection, the amount of pension received by individuals will vary according to factors such as the conditions of personal pension insurance treatment and the number of years of payment, and the balance of personal accounts. At the same time, in terms of deduction, the amount of personal account savings of the pension will be calculated annually according to the interest rate stipulated by the state and the payment subsidy, and the interest and payment subsidy will also affect the amount of the personal account pension.
It should be noted that the pension insurance policies will be different in different regions and industries, and the specific deduction ratio may also be different. If you want to know the specific deduction rate in your area, it is recommended to check with your local social security agency or relevant department.
December Creation Incentive Program