Liuzhou female 1987 joined the work and retired at the age of 50 in August this year. Before that, she had been paying the minimum social security. How much is the monthly pension?

At present, the retirement pension consists of basic pension and personal account pension (there are transitional pensions before the reform of the old-age insurance system).

The calculation method is as follows

First, the basic pension = (when the insured retires, the average monthly salary of employees in the whole province in the previous year+the average monthly payment salary of the insured) /2× payment period × 1%. (Note: my indexed monthly average payment salary = the average monthly salary of employees in the whole province last year × my average payment index).

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

Because, when you retire, you don't know the average monthly salary of the whole province in the last year, your average contribution index and the amount of your personal account, so you can't accurately calculate how much pension you receive every month when you retire.

However, according to the principle of "pay more and get more", the old-age insurance premium will be paid to the lowest level than the normal standard, and the pension after retirement will definitely be less.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.