How to calculate social security retirement salary

How to calculate the social security retirement salary? Basic pension consists of basic pension and personal account pension. 1. The monthly standard of basic pension is based on the average monthly salary of employees in the city where the insured retires in the previous year and the average indexed monthly salary of himself, and the payment is paid to 1% every1year. The calculation formula is: basic pension = (the average monthly salary of employees in the districts and cities where the insured retires+the average monthly payment salary of the insured) ÷2× individual cumulative payment years (including deemed payment years) × 1% the average monthly payment salary of the insured = the average monthly salary of employees in the districts and cities where the insured retires × the average monthly payment salary index of individual accounts. The calculation formula is: personal account pension = personal account savings at retirement ÷ the number of months corresponding to my retirement age. 2.1The insured who joined the work before September 30, 1995 and the accumulated payment period reached 15 will be given a transitional pension on the basis of the basic pension and personal account pension according to the above methods. The monthly standard of transitional pension is the product of the average monthly salary of employees in the districts and cities where the insured person retired in the previous year and the average wage index paid by him1the deemed payment period before September 30, 995 and the calculation coefficient, which is 1. 1%. The calculation formula is: transitional pension = average monthly salary of employees in the city where the insured person retired last year × average wage index of the insured person × deemed payment period before September 30, 0995 × 1. 1%.

Legal objectivity:

Article 16 of the Social Insurance Law of People's Republic of China (PRC) * * * Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid for fifteen years at 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. People's Republic of China (PRC) Social Insurance Law Article 18 The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner. Article 19 of the Social Insurance Law of People's Republic of China (PRC) * * * If an individual is employed across the overall planning area, his basic old-age insurance relationship will be transferred accordingly, and the payment period will be calculated cumulatively. When an individual reaches the statutory retirement age, the basic pension is calculated in stages and distributed uniformly. Specific measures shall be formulated by the State Council.