Title: How much is the financial compensation for the family members who suddenly pass away after social security retirement?
The sudden death is heartbreaking, but as well as grieving, they also need to deal with follow-up matters, including the handling of social security pensions. So, how much financial compensation can the family receive? Let's take a look.
First of all, the family needs to report to the social security department in time to suspend the payment of pensions. Next, there are three main types of financial compensation available to dependents: funeral expenses, pensions, and the balance of the pension in their personal accounts.
Funeral expenses are fixed amounts, generally ranging from a few thousand to ten thousand yuan, and the specific amount varies from region to region. Although the amount is not large, it can reduce the funeral burden of the family to a certain extent.
The amount of the pension depends on the number of years of social security contributions of the deceased, and the longer the contributions, the higher the pension. Generally speaking, people who have paid for 20 years can receive tens of thousands of yuan in pensions, the specific amount of which depends on regional policies.
As for the personal account pension balance, it depends on the deceased's savings in the personal account before retirement. This part of the funds belongs entirely to the individual and can be inherited in accordance with the law. Long-term contributors may have tens of thousands of yuan in personal account pension balance, which becomes a substantial compensation for their families.
It should be noted that although the pension in the personal account can be inherited, the social security funds in the overall account cannot be inherited. In the process of payment, 8% of the pension insurance premiums paid by individuals go into the personal account, while 16% paid by the unit goes into the overall account, which cannot be inherited.
Therefore, the financial compensation available to the family consists of a combination of funeral expenses, a pension and a pension balance in the personal account. Although the amount may not be very substantial, these compensation can alleviate the financial pressure on the family to a certain extent, so that they can better cope with sudden misfortune.
In this special period, we should also redouble our care for our loved ones, cherish the time between each other, and tide over difficulties together. May the deceased rest in peace, and the families mourn smoothly.
Hopefully, this article can bring you some help and enlightenment. If you have more questions about social security pensions, please follow my account, and I will continue to share more relevant content with you.