Pay social security, pay 60% of the pension, and settle the pension at 50%.

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.

Pension calculation formula

Pension = basic pension+personal account pension

Basic pension = (average monthly salary of employees in the whole province in last year+average monthly payment salary indexed by myself) ÷2× payment period × 1% = average monthly salary of employees in the whole province in last year (1+ average payment index by myself) ÷2× payment period × 1%.

Personal account pension = personal account deposit ÷ months (50 years old 195, 55 years old 170, 60 years old 139)

My indexed monthly average payment salary = the average salary of employees in the whole province last year x my average payment index.

Floating range of payment index: 0.6~3 = average monthly payment salary ÷ average monthly salary of employees in the whole province in last year.

Calculation of indexed monthly average payment wage

Calculate the indexed monthly average payment wage in three steps:

Step 1: Take the monthly payment salary of employees from work to retirement and divide it by the average monthly salary of employees in this city in that year to get the monthly payment index.

Step 2: Add up the monthly payment index of employees' payment years from employment to retirement and divide it by the number of months of their payment years to get the average payment index.

Step 3: Multiply the average payment index by the average monthly salary of employees in this city in the previous year at the time of retirement to get the indexed average monthly payment salary.

Number of months stipulated by the state: 50 years old 195, 55 years old 170, 60 years old 139.

For example, last year, the average monthly salary of employees in the province was 4,000 yuan, and the average monthly salary I paid was 2,400 yuan, the payment period was 15, and the retirement age was 60 years old.

Calculation: basic pension (4000+2400) ÷ 2×15×1%= 480.

Basic pension =480+ (personal account ÷ 139)