How is your pension calculated?

You can follow the following steps: understand the composition of pension: pension is mainly composed of two parts, namely basic pension and personal account pension. Basic pension = local social wage of last year ×( 1+ my average wage index) ÷2× payment period × 1% personal account pension = personal account storage amount ÷ calculation months. Collect the necessary information: the information you need to know includes the local social wage in the previous year, my average wage index, payment period, personal account storage, calculation month, etc. Calculation of basic pension: use the above formula and substitute the corresponding value for calculation. For example, if the local average monthly salary in the previous year was 8,000 yuan, the average payment index was 1.4, and the social security payment was 30 years, the basic pension was calculated as 8000× (1+1.4) ÷ 2× 30×1%. Calculation of personal account pension: the same formula is used to substitute the amount of personal account storage and the number of calculation months for calculation. For example, the average monthly salary is 8,500 yuan, the individual pays 8% of the old-age insurance for 30 years, and the personal account pension is calculated as (8,500× 8 %×12× 30). Total pension: add the basic pension and the personal account pension to get the total pension. Use an online calculator: If you find manual calculation complicated, you can use the official pension calculator to make quick calculations. For example, you can find the "Pension Calculation" tool through the the State Council applet, and fill in the relevant information according to the prompts to get the results. Consider other factors: In addition to social security, we can also consider supplementing commercial pension to improve the quality of life after retirement.