Calculation method of social security in Shanghai

Legal analysis: the calculation formula of pension insurance benefits: monthly basic pension = basic pension+personal account pension; Among them, the basic pension = (the average monthly salary of employees in the province last year+the average monthly payment salary of myself) /2 payment period 1%= the average monthly salary of employees in the province last year. Personal account pension = total storage amount of personal account/payment months. The collection of social insurance premiums is based on a unified payment base and is collected in the same form according to different proportions of various types of insurance. The payment verification method is the amount payable in the current month and the amount payable in the next month. The employing unit shall go through the relevant declaration formalities at the social insurance agency in the current month, and the social insurance premium shall be collected by the local tax department by bank transfer in the next month. Overdue payment, in addition to repay the amount owed, but also in accordance with the provisions of the additional fines.

Legal basis: Article 15 of the Social Insurance Law of People's Republic of China (PRC) consists of overall pension and individual account pension.

The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.