Wuxi pension calculation formula 2022

Wuxi pension is calculated according to the method of ÷2× payment period × 1% (the average monthly salary of employees in the previous year is based on the average monthly payment salary). Enterprises generally take the total wages of their employees as the payment base, and the average monthly salary of employees in the previous year is the salary base for individuals to pay social insurance premiums.

In China, the payment base is approved by the social insurance agency according to the employer's declaration.

1, the monthly standard of basic pension is based on the average monthly salary of local employees in the previous year and my indexed monthly salary, and the payment is paid to 1% every1year. The calculation formula is: basic pension = (the average monthly salary of local employees in the previous year when the insured retires) ÷2× payment period ×1%;

2. The monthly standard of personal account pension is the amount of personal account storage divided by the number of months. The calculation formula is: personal account pension = the accumulated amount of personal account when the insured retires ÷ months;

3. The monthly standard of transitional pension is based on my indexed monthly average payment salary, and the payment period before "unified account integration" is paid to 1 year. The calculation formula is: transitional pension = my indexed monthly average payment salary × payment years before unified account × 1.2%.

Wuxi employees who have continuously paid social security for 15 years and reached the statutory retirement age can receive pensions after completing retirement procedures. The amount of pension received by retired workers every month is related to the base of payment, the number of years and the level of payment. Pensions include basic pensions and personal account pensions, and their calculation methods are different.

What is the proportion of units and individuals paying endowment insurance?

To receive endowment insurance, the proportion of units paying endowment insurance is 20%, and the proportion of individuals paying endowment insurance is 8%.

Legal basis:

Article 10 of the Social Insurance Law

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly 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. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.