09.2020 Life Guide
Five questions and answers to understand the new policy of monthly payment of pension implemented in July
Far eastern New Century Corporation / Chen Ruchu
The new system has officially expired for 15 years since it was launched on July 1, 2005. At present, 11.8 million workers have joined the new system. It is estimated that 67000 workers with the new system will be eligible for "monthly retirement" or "one-time payment". In this issue, we will take you to review the relevant provisions and rights and interests of the new system.
1、 Who is eligible?
The new system of labor retirement is that the enterprise pays 6% of the employed workers to the special account of the labor protection bureau every month according to the wage scale, as the labor pension. Therefore, after retirement, most of the workers can not only receive the old-age pension of labor insurance, but also a pension from the new system of labor retirement.
Workers who have reached the age of 60 can apply for retirement pension. If they have worked for more than 15 years, they can choose to receive monthly pension or one-time pension; if they have less than 15 years, they can only choose to apply for pension once. Since the new system has been on the road for 15 years until July this year, if we want to meet the "new system of labor retirement with 15 years' seniority", the employer must pay 6% of the monthly salary to the individual retirement account from July 1, 2005, until June 30 this year, the uninterrupted labor will be eligible.
2、 How do you know if you are qualified? How to choose monthly or once?
Workers can use the natural person certificate to query on the website of the Labor Protection Bureau, or carry the ID card to the local offices of the Labor Protection Bureau for inquiry. They can also use the mobile phone or tablet computer to query the personal account information of the labor pension through the mobile device authentication of the labor protection Bureau (the certification must be obtained with the natural person certificate first).
How to choose "monthly" and "one-time" payment? It is suggested to use the simple trial balance of monthly retirement pension on the website of the bureau to calculate the average remaining life, monthly pension amount and quarterly monthly pension amount.
3、 When can I receive the monthly collection?
Since the labor insurance bureau will only send the payment form in June to the employer on July 25, the employer can pay it within two months after receiving it. Therefore, even if the employer withdraws the labor pension from the first day of operation and continues to pay it until June 30, this year, it is necessary to wait for the employer to pay the bill before the worker can pay his seniority. In other words, as long as the Employer receives the payment slip and pays the bill into the account immediately, the eligible workers can apply for the monthly pension, which can be started in August at the earliest.
4、 Is monthly pension recorded every month?
The monthly retirement pension will be recorded in February, may, August and November of each year, and the amount will be paid for three months each time. For example, the pension from January to march is paid in February; the pension from May to July is paid in May, and so on.
Do you need to pay tax on monthly pension?
The monthly pension of the new system of labor retirement is regarded as retirement income. According to the comprehensive income tax provisions of the year 109, the tax-free amount of individual retirement income for one year is 781000. If the monthly pension of less than 65083 yuan per month is not subject to tax, and it has only started to receive in August this year, it needs to exceed 156 per month on average, In other words, no one should be taxed this year. In addition, since both husband and wife have 781000 tax allowances, the tax will not be increased even if the husband and wife receive monthly pension at the same time. (source: Economic Daily, detailed rules for the implementation of labor pension regulations)
1、 Who is eligible?
The new system of labor retirement is that the enterprise pays 6% of the employed workers to the special account of the labor protection bureau every month according to the wage scale, as the labor pension. Therefore, after retirement, most of the workers can not only receive the old-age pension of labor insurance, but also a pension from the new system of labor retirement.
Workers who have reached the age of 60 can apply for retirement pension. If they have worked for more than 15 years, they can choose to receive monthly pension or one-time pension; if they have less than 15 years, they can only choose to apply for pension once. Since the new system has been on the road for 15 years until July this year, if we want to meet the "new system of labor retirement with 15 years' seniority", the employer must pay 6% of the monthly salary to the individual retirement account from July 1, 2005, until June 30 this year, the uninterrupted labor will be eligible.
2、 How do you know if you are qualified? How to choose monthly or once?
Workers can use the natural person certificate to query on the website of the Labor Protection Bureau, or carry the ID card to the local offices of the Labor Protection Bureau for inquiry. They can also use the mobile phone or tablet computer to query the personal account information of the labor pension through the mobile device authentication of the labor protection Bureau (the certification must be obtained with the natural person certificate first).
How to choose "monthly" and "one-time" payment? It is suggested to use the simple trial balance of monthly retirement pension on the website of the bureau to calculate the average remaining life, monthly pension amount and quarterly monthly pension amount.
3、 When can I receive the monthly collection?
Since the labor insurance bureau will only send the payment form in June to the employer on July 25, the employer can pay it within two months after receiving it. Therefore, even if the employer withdraws the labor pension from the first day of operation and continues to pay it until June 30, this year, it is necessary to wait for the employer to pay the bill before the worker can pay his seniority. In other words, as long as the Employer receives the payment slip and pays the bill into the account immediately, the eligible workers can apply for the monthly pension, which can be started in August at the earliest.
4、 Is monthly pension recorded every month?
The monthly retirement pension will be recorded in February, may, August and November of each year, and the amount will be paid for three months each time. For example, the pension from January to march is paid in February; the pension from May to July is paid in May, and so on.
Do you need to pay tax on monthly pension?
The monthly pension of the new system of labor retirement is regarded as retirement income. According to the comprehensive income tax provisions of the year 109, the tax-free amount of individual retirement income for one year is 781000. If the monthly pension of less than 65083 yuan per month is not subject to tax, and it has only started to receive in August this year, it needs to exceed 156 per month on average, In other words, no one should be taxed this year. In addition, since both husband and wife have 781000 tax allowances, the tax will not be increased even if the husband and wife receive monthly pension at the same time. (source: Economic Daily, detailed rules for the implementation of labor pension regulations)
