Small towns in Shanghai 15 Social Security for 8 years

Legal analysis: the calculation formula of pension;

Monthly pension = basic pension+personal account pension;

= Average monthly salary of employees in the city with districts in the previous year ×20%+ accumulated storage in personal accounts/120;

Those who took part in the work before social security co-ordination ("middle people") plus transitional pension, and the continuous length of service before social security co-ordination (regarded as the payment period) affects the specific amount of transitional pension.

Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC). Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.