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Social Security how to calculate the retired salary Social Security how to calculate the retired salary
1, the formula for calculating retirement pay in social security: retirement pay, that is, pension = basic pension + personal account pension.
2, of which the basic pension is (the average monthly salary of the local employees on the job in the previous year when the employee retired + the average monthly contribution salary of the indexed monthly salary of the employee) ÷ 2 × the number of years of contributions × 1%; and the personal account pension is the cumulative amount of savings in the personal account ÷ the number of months of accrued benefits.
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