How to calculate the pension?

The calculation method of monthly pension after retirement is as follows: monthly pension after retirement = basic pension+personal account pension+transitional pension.

1, monthly basic pension:

Amount = (when employees retire, the average monthly salary of employees in the province in the previous year+the average monthly payment salary of themselves) divided by 2 times the payment period multiplied by1%;

In which: my indexed monthly average payment salary = the average monthly salary of employees in the whole province in the previous year multiplied by my average payment index over the years when employees retire.

The basic pension is directly proportional to the payment period. The longer the payment time, the higher the treatment. If the annual contribution levels (contribution index) of A and B are the same, A pays for 20 years and B pays for 40 years, then B's basic pension is twice that of A. The basic pension is positively correlated with my comprehensive contribution level (average contribution index over the years), but not directly proportional.

2. Monthly personal account pension:

Amount = the amount stored in personal account divided by the number of months (195 is the retirement at the age of 50; Retirement at 55 is 170 months; Retirement at 60 is 139 months);

Personal account deposits mainly come from 8% personal contributions and interest over the years; This "calculating the number of months" is only used to calculate the pension for the first year of retirement, and it has nothing to do with the actual number of months paid. In fact, it will be paid for life.

3. Monthly transitional pension:

Amount = the average monthly salary of employees in the whole province multiplied by the average payment index of employees multiplied by the deemed payment period multiplied by1.4%;

There are differences in the calculation methods of transitional pensions among provinces, autonomous regions and municipalities. The above formula is the algorithm of Shaanxi Province. Only "old people" who joined the work before 1996 and other people with the same payment period can have a "transitional pension".

legal ground

People's Republic of China (PRC) social insurance law

Fifteenth basic pension consists of overall pension and individual account pension.

The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

skill

The above answer is only for the current information combined with my understanding of the law, please refer carefully!

If you still have questions about this issue, I suggest you sort out relevant information and communicate with professionals in detail.