Examples of Pension Calculation Formulas in Liaoning Province

The formula for calculating the pension: enterprise employees' pension = basic pension + personal account pension

Basic pension = [the average monthly salary of the employees on the job in the city in the previous year at the time of retirement × (1 + the average salary index of the person)] ÷ 2 × the number of years of all the contributions of the person (length of service) × 1%

Personal account pension = the amount of money stored in the personal account at the time of retirement/the number of months of the person's retirement age

Average salary index of the person = the contribution base of the participant/average salary in the previous year

Participants' contribution base / average salary of the person in the province in the previous year

Individual average wage index = the insured person's contribution base / the average wage of the previous year

Previous year's average monthly wage of the province's on-the-job workers: the average social wage announced by the Bureau of Statistics each year

Individual account storage amount: you can go to the social security website to check the contents of the annual social security statement.

Retirement age corresponding to the number of accrued months: announced by the state.

Liaoning province pension formula example

Liao in December 1979 to participate in the Liaoning province's enterprises, from July 1992, the actual contributions, the actual average contribution index of 1.2, January 1996 before the payment of 16 years and 1 month (16.08 years), the cumulative contribution period of 40 years and 8 months (40.67 years) began to pay contributions.

The detailed calculation process is as follows:

Liao basic pension = 6057 × (1 + 1.2) × 2 × 40.67 × 1% = 2709.72 yuan

Liao personal account pension = 85468 = 139 = 614.87 yuan

Liao transitional pension = 6057 × (1 + 1.2) × 2 × 16.08 × 1.4% = 1499.91 yuan

Liao's monthly pension rate = 2709.72 + 614.87 + 1499.91 = 4824.5

The pension, i.e., the cost of living that a retiree receives in accordance with the law. It is the main component of pension insurance benefits.

Pension all under the jurisdiction of the local social security department is the state issued. Participate in the social integration of pension insurance, retirement pension in the insurance local social insurance agency commissioned by the bank to receive.

Basic pension socialization refers to the individual employee in accordance with the provisions of the basic pension insurance and to the social insurance agency to pay the basic pension insurance premiums in full, the unit of the basic pension of the retirees from the employee's unit to the community, that is, by the social insurance agency is responsible for the unified, through the bank, the post office, and relying on community and other intermediary institutions to the basic pension insurance benefits to the retirees eligible to enjoy the The social insurance agencies are responsible for paying basic pensions to retired persons eligible for basic pension insurance through banks, post offices, communities and other intermediary organizations.

Another: how to query their own retired wages

1, search for the official website of the Human Resources and Social Security Bureau of the social security location, enter the official website, click on the navigation bar of the "online";

2, click on the personal login, registration, registration is complete, and then log in.

3, enter the inquiry page, personal information inquiry, personal pension information inquiry.

Legal basis

The Social Insurance Law of the People's Republic of China (2018 Amendment)

Article 6 The State shall strictly supervise the social insurance fund.

The State Council and the people's governments of provinces, autonomous regions and municipalities directly under the Central Government shall establish and improve the supervision and management system of the social insurance fund, and guarantee the safe and effective operation of the social insurance fund.

The people's governments at or above the county level take measures to encourage and support the participation of all sectors of society in the supervision of social insurance funds.

Article 16 Individuals who have participated in basic pension insurance shall receive a basic pension on a monthly basis if they have accumulated fifteen years of contributions by the time they reach the legal retirement age.

Individuals who have participated in basic pension insurance and have contributed for less than fifteen years by the time they reach the legal retirement age may pay contributions until they reach fifteen years and receive a basic pension on a monthly basis; they may also be transferred to the new type of rural social pension insurance or the urban residents' social pension insurance, and shall enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.