Calculation method of social pension insurance

The simplest calculation method of pensionBasic pension consists of basic pension and personal account pension.

Basic pension, refers to the pension calculated according to the participant's contribution period, the contribution level and the base of basic pension calculation, which is paid by the basic pension insurance fund. Individual account pension refers to the pension calculated according to the amount stored in the basic pension insurance individual account of the insured person at the time of retirement and the number of months of payment corresponding to the retirement age, and is paid from the individual account of the person.

(1) Basic pension: the average monthly salary of on-the-job workers in the province in the previous year at the time of retirement × (1 + average contribution salary index) ÷ 2 × years of contribution × 1%.

(2) Individual account pension: individual account balance ÷ number of months of payment.

(3) Occupational pension benefits: the balance of the individual account of one's occupational pension at the time of retirement ÷ the number of months of payment.