Calculation method of teachers' pension

1. Pension = basic pension + personal account pension;

2. When the insured contributors reach the conditions for entitlement, the basic pension will be increased by RMB 2 yuan per month for every year of normal contribution exceeding 15 years. The current minimum standard of basic pension from July 2020 is 105 yuan per person per month. The monthly standard of personal account pension is the full amount of personal account storage divided by 139;

3. The formula for calculating the monthly pension entitlement: Monthly pension entitlement = basic pension (now 105 yuan per month) + personal account pension (personal contribution + government subsidy + interest) divided by 139 + pension for years of contribution (years of contribution - 15) multiplied by 2 yuan.

The social security procedures for retirees are as follows:

1, one month before reaching the legal retirement age, you should supply the unit operator with a copy of your ID card (for dealing with the pension collection card), a personal photo (for dealing with the retirement card) and other materials;

2, the social security operator fills in the retirement approval form according to the details of the person concerned, and submits it together with the person concerned's personnel file to the social security organization in the Retirement month submitted to the social security organization, the social security organization to review whether it is suitable for retirement conditions;

3, social security review through, according to their retirement age, the length of time to participate in the contributions, the contribution base for the past years, the local calendar year social salary and other elements of the calculation of their detailed pension;

4, the operator according to the social security accounting results to improve the retirement review form and submit to the social security recognition, approval, completion of the Social security issued retirement approval and manufacture of retirement card, together with the bank commissioned to deal with its pension collection card;

5, the operator will be dealt with retirement card, bank card, etc. forwarded to the retired party to complete the retirement formalities.

Legal basis:

Article 2 of the Provisional Measures of the State Council on the Retirement and Retirement of Workers

Workers shall be paid monthly retirement contributions according to the following standards after their retirement until their death.

(1) Those who meet the conditions of Article 1 (1), (2) and (3) and participated in revolutionary work during the War of Resistance Against Japanese Aggression shall be paid ninety percent of their standard salary. Participation in revolutionary work during the liberation war, according to 80 percent of my standard salary. For those who participated in revolutionary work after the founding of the People's Republic of China, seventy-five percent of their standard salary shall be paid for twenty years of continuous service; seventy percent of their standard salary shall be paid for fifteen years of continuous service but less than twenty years of continuous service; sixty percent of their standard salary shall be paid for ten years of continuous service but less than fifteen years of continuous service. If the retirement fee is less than twenty-five dollars, it shall be paid at twenty-five dollars.

(2) In accordance with the conditions of Article 1 (4), if a person needs assistance in eating and living, he shall be paid ninety percent of his standard salary, and may also be paid a certain amount of nursing fee according to the actual situation, and the standard of nursing fee shall not exceed the salary of an ordinary worker; if a person does not need assistance in eating and living, he shall be paid eighty percent of his standard salary.

When two or more conditions for retirement exist at the same time, the highest standard shall be paid. If the retirement payment is less than thirty-five dollars, it shall be paid at thirty-five dollars.