How much pension can social security get?

When the social security has been paid for 15 years and reaches the legal retirement age, you can receive the basic pension on a monthly basis. The basic pension consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

According to the calculation formula of pension:

First, the basic pension is equal to the average social wage in the last year before retirement ×( 1+ my average contribution index) ÷2× payment period × 1%.

Second, personal account pension is equal to the accumulated balance of personal account of pension insurance at retirement divided by the number of months determined by retirement age.