I have been paying pension insurance in Shanghai for one year, 342 RMB per month, how much can I get per month for retirement? Can I transfer it if I go back to my hometown?

How much pension is not something that can be explained in a few words. Refer to the following algorithm for enterprise workers' pensions.

Transferring, of course, is possible.

The pension is related to the amount of contribution, the total number of years of contribution, the retirement age, and the regional average social wage.

Generally, a retiree's pension entitlement is: individual account pension + basic pension + other allowances.

(1) Individual account pension. The total amount of funds in the personal account divided by a certain number, which is determined by the age at retirement.

Retirement age Number (months of personal account pension accrual)

45 216

50 195

55 170

60 139

65 101

Assumption: Retirement at age 60, with 139,000 yuan in the personal account at retirement. Individual account pension = 139000 / 139= 1000$.

(2) Basic pension. The number of years of contributions multiplied by 1% multiplied by the average monthly salary of the local community in the year of retirement.

Assuming that the local average monthly social wage is 6,000 yuan and the number of years of contribution is 25 years.

Base pension = 25 years * 1% * 6000 RMB = 1500 RMB/month.

Note 1: This assumes that contributions have been made at the local average wage level. If contributions are high, the 1% figure (calculated based on the individual's contribution base and the average social wage) will be high, such as 1.2%, and if contributions are low, it will be less than 1%, such as 0.7%.

Note 2: In general, the individual contributions began in 1992. 1992 years of service, as long as there is a contract, archives and other proof, all counted as having paid, called the deemed contribution years.

In the case of the above (1) and (2) example, the total of the two is per month: 1000 + 1500 = 2500 yuan / month.

(3) Other allowances. Senior worker (some places have abolished this allowance), model worker, only child, local supplement, old age allowance, transition allowance, contributory years of service allowance, and so on.

All of the above, constitute the pension for the first month of retirement. It is usually adjusted upward by a certain percentage each year, and in 2018 it was adjusted upward by 5% .