Calculation method of pension in Shandong Province

Legal analysis: The calculation method of retirement pension in Shandong Province is formulated by the municipal social security centers. It is based on the monthly standard of basic pension, and the average monthly salary of employees in this city in the previous year and the average monthly salary of myself as the base. The payment period is paid to 1% every full year, and it is paid monthly from the social pooling fund. Take Jinan as an example. Article 17 of the Regulations on Basic Old-age Insurance for Employees of Urban Enterprises in Jinan City, after 1998 1 month 1 day, the basic pension enjoyed by them includes basic pension and personal account pension. Among them, it is calculated and paid according to the following standards: (1) The basic pension is based on the average monthly salary of employees in this city and the average indexed monthly salary in the previous year, and the payment period is paid from the social pooling fund every 1 year. (2) The monthly standard of personal account pension is the amount of principal and interest stored in personal account divided by the number of months of calculation, which is paid monthly from the personal account fund. Calculate the number of months in accordance with the provisions of the State Council.

Legal basis: People's Republic of China (PRC) Social Insurance Law.

Tenth employees should participate in the basic old-age insurance, and employers and employees should pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government.

When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.

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.