You are over 40 years old and have paid the endowment insurance for 20 years, which means you have been insured for a long time. If you insist on retirement at the age of 60, the payment period may be close to 40 years. 40-year payment period and 20-year payment period are completely different concepts, and the increase of pension is also multiple. If you continue to work in the employer, the employer will continue to pay for you until you go through the retirement formalities. If it is a flexible employee, it is up to the individual to decide whether to continue to pay. Within the scope of economic ability, it is of course better to continue to pay. If the economic situation does not allow, continuing to meet will affect your normal life. Stopping payment now will not affect retirement when you reach the legal retirement age in the future. However, because the payment period is only 20 years, the pension is still relatively low, and you may not be able to rely on the pension in the future.
Pension is comprehensively calculated according to the payment base, payment period, individual account fund balance and the average monthly salary of employees in the previous year, in which the payment period has a great relationship with the level of pension. The longer the payment period, the greater the fund balance accumulated in the personal account, the higher the interest generated, and the total amount of the personal account will continue to increase, which will help to increase the personal account pension. For the relationship between the payment period and the pension, the basic pension will increase by 1% for each year of payment period. In the future, the pension will be calculated according to the basic pension and personal account pension.
For example, the basic pension is 1% of the annual basic pension based on the average sum of the average monthly salary of employees in the previous year and the average salary of my average contribution index over the years. Maybe some friends have some difficulties in understanding this description, so let's give an example. If the average monthly salary of employees in the previous year is 7,000 yuan per month when they retire, the average monthly payment base of my previous years adds up to 5,000 yuan, and the peace between them is 7,000 yuan plus 5,000 yuan divided by 2 equals 6,000 yuan. This 6,000 yuan is the calculation base of the basic pension, and it is paid to 1% every year of payment, which means that the basic pension is 60 yuan every year of payment. You are now paying for 20 years, and the monthly basic pension is 1200 yuan; If you pay for 40 years, the monthly basic pension will be 2,400 yuan, which will double.
The other part is personal account pension. According to the above example, the average payment base is 5000 yuan per month, so the average monthly balance of the funds contained in the personal account is 400 yuan, 4800 yuan per year and 20 years * * *. If the payment is 40 years, it is 1 * * *. If they all retire at the age of 60, the personal account pension for 20 years is 69 1 yuan, and the personal account pension for 40 years is 1382 yuan. This is also a concept of doubling. If the corresponding capital interest is added, the personal account pension will increase by 100, reaching 200 yuan.
According to this example, if you pay for 20 years, the monthly pension is 189 1 yuan, and the 40-year monthly pension is 3782 yuan, which is also a concept of doubling. However, this calculation result is only an example, and the specific figure depends on your actual payment. In addition, the interest on the balance of funds in personal accounts is actually very high, which can reach about 7% on average every year. If the personal account is 6,543,800 yuan per year, 700 yuan will generate interest. Personal accounts are more than 6,543,800 yuan, and interest is more than 7,000 yuan every year. The longer the payment period, the longer the calculation period of capital interest.
To sum up, you are now in your 40 s and have been paying pension insurance for 20 years. If you are a male, you still have about 20 years to pay, and if you are a female, you still have 10 to 15 years to pay. As long as you continue to work in the unit, I will continue to pay you. Whether flexible employees continue to pay fees can be decided by themselves. But as can be seen from the above example, the longer the payment period, the higher the pension, which is not only a theoretical slogan, but a real fact.