How to calculate the pension?

According to the calculation method of pension, the pension of employees at retirement is calculated according to the following formula:

1996 1 The calculation method of the pension of the insured who joined the work before is as follows:

Pension = basic pension+personal account pension+transitional pension

For the insured who joined the work after 1996 65438+ 10/month, the calculation method of retirement pension is as follows:

Pension = basic pension+personal account pension

1, basic pension = the average monthly salary of local employees in the previous year (1+ my average contribution index) ÷2× payment years × 1%.

In which: my indexed monthly average payment salary = the average monthly salary of local employees in the previous year × my average payment index.

For example, according to the above formula, suppose that when a male employee retires at the age of 60, the average monthly salary of local employees in the previous year is 6000 yuan.

When the cumulative payment period is 15 years and the average individual payment base is 0.6, the basic pension = 6,000 yuan× (1+0.6) ÷ 2×15×1%= 720 yuan.

When the average individual payment base is 1.0, the basic pension =6000 yuan× (1+1) ÷ 2×15×1%= 900 yuan.

When the individual's average payment base is 3.0, the basic pension =6000 yuan× (1+3) ÷ 2×15×1%=1800 yuan.

If the cumulative payment period is over 40 years,

When the individual's average payment base is 0.6, the basic pension =6000 yuan× (1+0.6) ÷ 2× 40×1%=1920 yuan.

When the individual average payment base is 1.0, the basic pension =6000 yuan× (1+1) ÷ 2× 40×1%= 2400 yuan.

When the average individual contribution base is 3.0, the basic pension = 6,000 yuan× (1+3) ÷ 2× 40×1%= 4,800 yuan.