Fenghua social security and Ningbo the same retirement pay later the same?

Normal payment of social security is the pension.

Monthly pension:

Basic pension = (the province's average monthly salary of employees on the job in the previous year × a + the average monthly salary of the person's indexed contributions) ÷ 2 × the number of years of contributions (including the number of years of deemed contributions) × 1%;

Personal account pension = the amount of personal accounts ÷ the number of months of personal account pension;

The sum of the above two for the monthly amount.

The sum of the above two items is the monthly pension amount.

Note: The basic pension is subject to annual adjustment in July every year according to the program announced by the province.