Jiangsu pension calculation formula

Jiangsu pension calculation formula is as follows:

1, monthly basic pension = basic pension+personal account pension+transitional pension;

2. Basic pension = average monthly salary of the previous year *( 1+ my average contribution index) /2 years of contribution1%;

3, personal account pension = personal account savings/months;

4. Transitional pension = indexed monthly average payment salary as the transition coefficient of payment period.

Personal pension card processing process:

1. Apply for a personal pension card: you can apply for a personal pension card at your social security agency;

2. Identity authentication: Identity authentication requires an ID card, household registration book or other valid identification materials;

3. Pay social security fees: pay social security fees at the social security agency, and bind the personal pension card to the personal social security account after payment;

4. Bank account opening: handle personal savings accounts at banks such as China People's Bank, China Bank, China Construction Bank and China Agricultural Bank;

5. Bank card activation: After getting the personal pension card, you need to go to the bank to activate the card and set your personal password and withdrawal password;

6. Receive a pension: Before receiving a pension, you need to bind the personal pension card with the online personal social security account. When the pension payment date is up, you can go to the designated bank ATM or counter to receive the pension.

To sum up, the personal pension card is a part of the pension insurance system, and the specific use and management methods may be different due to different regions and policies. When using the pension card, you need to read the relevant agreements and policies carefully in order to better understand your rights and obligations.

Legal basis:

Article 10 of People's Republic of China (PRC) Social Insurance Law

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Article 11

The basic old-age insurance combines social pooling with individual accounts.

The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 15

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.