There are quite a few people retiring in 2024. More than 27 million were born in 1964 and 1969, and conservative estimates suggest that there will be more than 10 million new retirees.
In the last period of retirement, many people may still want to make one last effort, whether to choose high-end payment or low-grade payment is cost-effective?
The pension generated by participating in the pension insurance mainly consists of two parts: the basic pension and the personal account pension.
The basic pension formula is linked to the average social wage. Basic pension The average social salary of the previous year of retirement (1 average contribution index of the person) 2 The number of years of contribution 1%.
If it is an ideal state, the average salary used in the payment base is the same as the average salary used to calculate the pension, and the basic pension can receive 08% of the average salary. If you pay according to 100% grade, you can receive 1%; If you pay according to the 300% grade, you can receive 2%.
If it is calculated according to the basic pension calculation formula, it is 02. The number of social average wages that can be received for the basic pension will be increased by 01 percentage point.
Personal account pension The balance of the personal account of retirement pension insurance The number of months of calculation and payment determined by the retirement age.
8% of the contribution base of the pension insurance contribution is credited to the personal account, and the interest will be calculated every year according to the accounting interest rate stipulated by the state. Finally, when it comes to retirement, the personal account pension will be determined according to the number of months of calculation and payment of 50 years old 195 months, 55 years old 170 months, 60 years old 139 months, according to the plan before 2025 will be revised and improved this month system.
Suppose the average social wage is 10,000 yuan, the lowest base is 6,000 yuan, and the highest base is 30,000 yuan. In fact, the contribution rate of flexible employees participating in pension insurance is generally 20%.
According to the base payment of 6,000 yuan, 1,200 yuan per month, 1440,000 yuan. Since 8% of the contribution base is credited to the personal account, this part of the money is completely principal guaranteed, so there is no need to consider the problem of recovering the principal. Then, the part that will enter the overall account will be used to return to the basic pension to take a look. The amount of money into the overall account is 8,640 yuan, and 60% of the base payment can receive a basic pension of 80 yuan per month for one year, so the payback time is 108 months.
If the payment is made at 100%, the amount of money credited to the overall account in a year is 14,400 yuan. The resulting basic pension is 100 yuan per month, and the payback time is 144 months.
If it is a 300% grade payment, the amount of money credited to the overall account in a year is 43,200 yuan, the basic pension generated is 200 yuan per month, and the payback time is 216 months.
For every 20% increase in the payment grade, you can receive an additional 10 yuan per month for the basic pension. The payment grade has been increased by 20%, and the amount of money transferred to the overall account is 2,880 yuan. In other words, the payback time of the pooled account for increasing the payment is 288 months.
Therefore, from the analysis of the above results, if you pay according to a high base in the last year of retirement, the payback time is actually quite long.
But to be honest, if the average social wage is in a stage of rapid growth, the sooner you choose a high base payment, the more cost-effective, after all, the basic pension is linked to the average social wage. For example, in 2000, the average salary in Shandong Province was only 583 yuan in the previous year, and now it has risen to more than 7,000 yuan. Looking at it now, how cost-effective was it to pay 300% at that time?
In addition, if the return time of personal account pension treatment does not consider the accumulation of interest, it is related to the number of months. Like 60 years old, 139 months payback time. All things considered, it must be a high base payment, and the longer you live, the more cost-effective.
There are advantages and disadvantages of high-base payment and low-base payment, but for ordinary people, it may be close to retirement, and it is relatively more cost-effective to choose low-base payment, at least the cost performance is higher.