Retirement wages are paid to social security cards.

Retirement wages are paid to social security cards or other bank accounts. When the insured reaches the retirement age stipulated by the state, the corresponding basic pension is paid monthly, but the actual payment period needs to reach 15 years or more. Those who participate in the social pooling of the basic old-age insurance for employees of urban enterprises in this city have reached the retirement age stipulated by the state, and the actual payment period (including deemed payment period, the same below) is over 15 years, and the basic pension is paid monthly.

According to the latest pension calculation method, employees' pension consists of two parts:

Pension = basic pension, personal account pension

Personal account pension = individual account storage amount divided by the number of months (50 years old 195, 55 years old 170, 60 years old 139, 120 is no longer unified) basic pension = (average monthly salary of employees in the whole province in the previous year, average monthly payment salary) divided by 2 times the payment period multiplied by 60.

Legal basis: Article 15 of the Social Insurance Law of People's Republic of China (PRC).

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.