Is it reasonable for Heilongjiang to retire in 2024 with a pension of less than 5000 yuan for 42 years of service? Do you still need it?

Is it reasonable to retire in Heilongjiang in 2024 with 42 years of service and less than 5000 yuan of pension? Will it be reissued?

The longer the total length of service of the insured who will retire in 2024, the higher the calculated pension benefits will be. However, when the average contribution index and the pension base of the retirement place are relatively low, the calculated pension benefits of the insured will not be too high.

For example, this insured person with 42 years of service, whose retirement place is Heilongjiang, will go through retirement procedures in June 2024, but his monthly pension benefits are less than 5000 yuan. Is that reasonable? Will the pension be reissued?

By the end of June 2024, most of our country's pension base for 2024 has not been announced, but Heilongjiang's pension base for 2024 has already been announced. According to the regulations, the pension base of Heilongjiang Province in 2024 is 7010 yuan. Therefore, the pension calculated by the insured who will retire in 2024 in the local area is also a formal treatment, and there is no need to calculate the retroactive pension. So is the retiree who has worked for 42 years.

According to his actual situation, when he went through retirement procedures, the balance of his personal account for pension insurance was 67259.36 yuan, and the total length of service was 42 years, of which, the deemed length of contribution was 13 years and 6 months, and the average contribution index was 0.7124. With the pension base of 7010 yuan, the pension treatment of the retiree was only 3813.72 yuan.

Among them, Individual account pension has 67259.36/139=483.88 yuan, basic pension has 7010 * (1+0.7124)/2 * 42%=2520.82 yuan, and transitional pension has 7010 * 0.7124 * 13.5 * 1.2%=809.02 yuan 。

It can be seen from the above calculation that the pension of the retiree is indeed less than 5000 yuan, and the reason is relatively simple, because his average contribution index and the pension base of the retirement place are relatively low, so according to his actual situation, the pension of the retiree is less than 5000 yuan, which is normal.

What should be noted here is that the pension of retirees everywhere is not only calculated by length of service, but also the average contribution index, retirement age, and pension base of retirement places. These data are also very important. If these data are relatively low, the calculated pension benefits are also relatively low.