How to calculate personal account pension?

Personal account pension is calculated according to your personal savings and the number of months of personal account pension, and the Social Security Bureau will have a special calculation formula.

How to calculate personal account pension?

1, the current pension calculation formula is based on the State Council's Decision on Improving the Basic Old-age Insurance System for Enterprise Employees in 2005. The basic pension calculation formula and the personal account pension calculation formula are unified throughout the country. The calculation formula of transitional pension is determined according to the local actual situation.

2. The basic pension is equal to the average social wage in the last year before retirement ×( 1+ my average contribution index) ÷2× years of contribution × 1%. It can be seen from the calculation formula that the basic pension is mainly linked to the average social wage in the last year before retirement. However, the payment period and the average payment index also play an important role, and the specific payment ratio is determined.

3. Personal account pension is equal to the balance of personal account of pension insurance at retirement, and the number of months determined by retirement age.

4. The transitional pension is determined by each province and city, but it is mainly linked to the payment period before the implementation of the pension insurance system combining overall account and individual account.

The main component of personal account pension

1, first, basic pension.

The payment period is specific to the month, and each month can be converted into 0.0833 years. Therefore, every extra month plays an important role.

2. Second, personal account pension.

The balance of personal account is now included in the personal account at 8% of the monthly payment base. Under the condition that the payment base remains unchanged, the amount of money in the personal account will increase every month.

3. Third, transitional pension.

Generally speaking, before the establishment of the old-age insurance system combining 1992~ 1997 local pooling accounts and individual accounts, only the old employees with long service life will take part in the work, and only those who are regarded as payment years and actual payment years will have transitional pensions.