Does the self-employed person qualify for a pension?

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An insurance pension for the self-employed is assigned if a person has accumulated 15 years of work experience. Only those periods for which insurance contributions have been accrued are counted towards the work experience.

Hired employees do not pay anything themselves, their employer does it for them. Most of them easily accumulate the minimum length of service if they build a full-fledged career.

Individual entrepreneurs are eligible for an insurance pension because work experience is accumulated through a fixed contribution that is paid every year.

Self-employed people do not have pension bangladesh phone number lead experience because they do not pay insurance contributions. The only mandatory tax is the professional income tax of 4% or 6% depending on the counterparty category.



How are seniority and points calculated?
In addition to length of service, in 2024, to qualify for an insurance pension, you must accumulate at least 28.2 pension points, and from 2025 - 30. They are also known as the individual pension coefficient (IPC).

The IPC affects not only the assignment, but also the size of the insurance pension. The logic is simple: if you work well and develop your skills, you move up the career ladder, bring more benefits, and your salary grows. The higher the salary, the more insurance contributions the employer pays, and you get more points.

After the end of a career, the insurance pension is calculated based on the number of points. The more points, the higher the pension for the self-employed.

The number of points accrued per year depends on the insurance premiums paid.

IPC = Insurance premiums / Standard amount of insurance premiums x 10

Employers pay contributions for employees at a single rate from accrued income, but only 72.8% goes to pensions. Of this, 19.4% goes to the accumulation of a social pension, which is assigned in the case of insufficient work experience and individual pension coefficient.

For example, if an employee earned 1 million rubles in a year, 218,400 will be spent on pension insurance, and 160,200 on forming an insurance pension.

The standard amount of insurance premiums is calculated based on the maximum base, which determines the maximum IPC for the year. In 2024, the maximum base is 2.225 million rubles.

The standard amount is 53.4% ​​of the single tariff from the maximum base: 2,225,000 x 30% x 53.4% ​​= 356,445 rubles. The maximum base is indexed once a year, so in the future the standard will be higher.

If in 2024 an employee received 1 million rubles, he will be awarded 4.49 pension points: 160,200 / 356,445 x 10.

In 2024, one pension point costs 133.05 rubles. The cost is indexed once a year, the insurance pension is calculated based on the price of the IPC at the time of retirement.

If a person has accumulated 120 points during their career, a pension of 15,966 rubles will be established for them in 2024 - 120 x 133.05. This amount is added to the fixed payment, so when retiring in 2024, a person will receive monthly: 15,966 + 8134.88 = 24,100.88 rubles.