Social security pension collection standard

The standard for receiving old-age insurance is to reach the statutory retirement age, and the accumulated payment is 15 years. If the accumulated payment is less than fifteen years and reaches the statutory retirement age, it can be paid for fifteen years; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance. 1, the monthly standard of basic pension is based on the average monthly salary of local employees in the previous year and my indexed monthly salary, and the payment is paid to 1% every1year. The calculation formula is:

Basic pension = (when the insured retires, the average monthly salary of local employees in the previous year+the average monthly payment salary of the insured) ÷2× payment period × 1%

2. The monthly standard of personal account pension is the amount of personal account storage divided by the number of months. The calculation formula is:

Personal account pension = the accumulated amount of personal account when the insured retires, and the number of months is calculated.

3. The monthly standard of transitional pension is based on my indexed monthly average payment salary, and the payment period before "unified account integration" is paid to 1 year. The calculation formula is:

Transitional pension = my indexed monthly average payment salary × payment period before unified account × 1.2%.

4. The transitional adjustment fund is paid in a certain proportion from 2006 to retirement on the basis of the current local standards. Those who retire late will not be issued with transitional adjustment funds.

legal ground

Article 16 of People's Republic of China (PRC) Social Insurance Law

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.