How to calculate retirement salary for social security pension?

The calculation method of social security pension is mainly to determine the retirement salary according to the individual's payment period, payment amount and local social security policy.

First, the composition of social security pension

Social security pension is mainly composed of personal account pension and basic pension. Personal account pension is the accumulation of funds allocated to personal accounts according to a certain proportion during the payment of social security; The basic pension is calculated according to the employee's payment period, payment amount and local average wage level.

Second, the calculation of personal account pension

The calculation formula of personal account pension is: personal account pension = accumulated amount of personal account ÷ calculation months. Among them, the accumulated storage amount of individual account is the total amount of funds transferred to individual account by employees during the payment period, including individual payment part and unit payment part; The number of months is determined according to the age and life expectancy of employees when they retire.

Iii. Calculation of basic pension

The calculation method of basic pension is complicated, which usually involves the comprehensive consideration of many factors. Generally speaking, the basic pension is closely related to the local social average wage, the payment period of employees, the payment amount and other factors. The specific calculation process may vary from region to region, so it is necessary to refer to the local social security policy for calculation.

Fourth, the determination of retirement wages.

Retirement salary is the sum of personal account pension and basic pension. When determining retirement salary, other factors need to be considered, such as whether employees enjoy transitional pension and whether they participate in enterprise annuity plan.

To sum up:

The calculation of social security pension involves many factors, including the calculation of personal account pension and basic pension, and the determination of retirement salary. In the calculation process, it is necessary to fully consider the payment period, payment amount and local social security policies of employees. In order to ensure the accuracy of calculation, employees are advised to consult the local social security department for specific calculation methods and policies before retirement.

Legal basis:

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

Article 15 stipulates:

The 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.

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

Article 16 stipulates:

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.