How to calculate how much the annual pension increase

How much the annual pension increase is calculated as follows:

1, adjust the pension formula: the amount of personal pension = old-age pension + labor pension + personal savings old age pension.

2, the monthly old-age pension = the average monthly salary of local on-the-job workers in the previous year multiplied by the age subsidy rate multiplied by (personal age - 65) + labor subsidy rate multiplied by the cumulative number of years of personal contributions.

3. Monthly Labor Pension = average monthly salary of local on-the-job employees in the previous year multiplied by the Labor Pension Percentage multiplied by the individual's accumulated contribution period.

Monthly personal savings pension = 110% of the individual account savings at the time of retirement divided by (76 - the actual retirement age of the individual) divided by 12.

4, workers' pensions: according to the length of service, 100 yuan for each year of work. The pension for 10 years of service is 1,000 yuan, and the pension for 20 years of service is 2,000 yuan. Participate in the work of 20 years of pension is 2,000 yuan, collapsed accompanied by participation in the work of 30 years of pension is 3,000 yuan, 40 years of service pension is 4,000 yuan. There is no distinction between senior workers, intermediate workers, or ordinary workers. All pensions are equal. The pensions of civil servants should also be equal regardless of their positions. They should receive the same pensions as workers. The implementation will be completed in less than three years.

The way to get the pension:

1, through the social security card: social security card is a social security card provided by the state, with identification, social insurance, medical insurance and other functions. Retirees who bring their social security cards to their local social security bureaus to complete the relevant procedures can enter their passwords into the designated social security card reader, select the "pension insurance" function, enter the amount of money to be received, and then confirm that they will receive it.

2, through the bank card to receive: retirees in the retirement procedures, you need to fill out the bank card information and submit. After the Social Security Administration credits the pension to the designated bank card, the retiree can collect it at the bank counter or ATM.

Legal basis:

The Law of the People's Republic of China on Social Insurance

Article 13

Basic pension insurance premiums payable by employees of state-owned enterprises and institutions during the period of deemed years of contribution shall be borne by the government before they participate in basic pension insurance. In the event of a shortfall in payments from the basic pension insurance fund, the government shall provide subsidies.

Article 15

The basic pension consists of a coordinated pension and an individual account pension burner. The basic pension is determined on the basis of the individual's accumulated years of contributions, contribution wages, the average wage of local workers, the amount of individual accounts, and the average life expectancy of the urban population.

Article 18

The state establishes a normal adjustment mechanism for basic pi?a pensions. According to the growth of the average wage of employees, price increases, and timely increase in the level of basic pension insurance benefits.