Many things in our lives are unforeseeable, but one thing is certain – everyone gets old. As we get older, the quality of retirement life becomes an unavoidable issue for each of us. That's why pension insurance has become so important, not only to ensure a secure future for our individuals, but also to maintain social stability and promote economic development.
According to the "2022 Statistical Communiqué on the Development of Human Resources and Social Security" issued by the Ministry of Human Resources and Social Security in July 2023, by the end of 2022, the number of people insured in China's basic pension insurance has reached an astonishing 10500 million, an increase of 24.36 million over the previous year. This figure is divided into two parts: about 500 million are urban workers, and their number of insured people increased by 22.81 million year-on-year; The number of participants in the basic old-age insurance for urban and rural residents is about 5500 million, an increase of 1.55 million year-on-year. Such data shows that the awareness of Chinese people to participate in insurance has been significantly improved, especially in the context of the increasingly severe aging population, more and more working-age people have begun to realize the importance of pension insurance.
People's enthusiasm for pension insurance is not only because of the pressure of population aging, but also because of the pension for 19 consecutive years, which undoubtedly enhances everyone's enthusiasm for insurance payment. Who wouldn't want a stable and growing pension after retirement? However, in order to enjoy such treatment, we need to meet some conditions, such as the cumulative number of years of insurance contributions is not less than 15 years, and at the same time reach the statutory retirement age - 60 years for men, and 50 or 55 years for women, depending on the type of employee.
In 2022, the number of retirees under the basic pension insurance for urban employees will be 1364.4 billion, but we note that there is a certain difference between the average monthly pension of employees of enterprises and retirees of government institutions and institutions. The factors affecting the level of pension mainly include the contribution base, the number of years of payment and the average monthly salary of the province where you are at the time of retirement. This follows a simple principle: "pay more, pay more, pay more". With the development of society and economic growth, in 2024, the social security payment base of some provinces and cities will be adjusted, which reflects the continuous optimization and improvement of the pension insurance system. Let's take a look at the calculation of personal pension through a hypothetical scenario: Suppose a 45-year-old enterprise employee will benefit from pension insurance if he pays at the lowest level starting from 2024, pays for 15 consecutive years, and retires at the age of 60. In order to improve the pension insurance benefits, we need to pay attention to the importance of increasing the payment base and extending the payment period. The policy encourages us to increase the contribution base to 100% or 150% of the average salary of the full caliber, so that we can receive a higher pension after retirement.
Pension insurance is not only a financial project, it is an investment in the future retirement life, but also an important guarantee for personal and family stability. In this rapidly changing world, actively participating in pension insurance to ensure the quality and dignity of our old age life is a choice that every visionary should make. Therefore, the importance of active participation in pension insurance is emphasized, not only for ourselves, but also for the future of our families and even society as a whole.