Example of personal account pension calculation formula

Example of calculation formula for endowment insurance 1. How much does endowment insurance pay every month? Formula: endowment insurance premium = endowment insurance payment base * unit payment ratio+endowment insurance payment base * individual payment ratio. The payment base of endowment insurance is generally determined according to the ten-year average wage level of employees. For example, the contribution base of Xiao Wang's old-age insurance is 4,000 yuan, the unit contribution ratio is 16%, and the individual contribution ratio is 8%. Then the company needs to pay 640 yuan/month and the individual needs to pay 320 yuan/month. 2. Pension calculation formula (1) Basic pension = (last year's average monthly salary of employees in the province+my average monthly payment salary) ÷2x Total payment period x 1%. (2) Personal account pension = personal account storage amount ÷ calculation months (calculation months are determined according to retirement age and average life expectancy, at present, 50-year-old retirement is calculated as 195 months, and 60-year-old retirement is calculated as 139 months) (3) Transitional pension = (average monthly salary of employees in the province last year+average monthly payment salary of myself). The content of the personal account of endowment insurance includes three parts: the basic endowment insurance premium paid by the individual+the basic endowment insurance premium paid by the unit is credited to the personal account+the interest calculated according to the social security interest rate. Obviously, the new policy will exclude the basic old-age insurance premium paid by the unit from the personal account.

Payment ratio: This part consists of individual payment and unit payment. The average monthly salary of employees above the individual payment is the base (the minimum number is 60% of the annual salary of employees in this city; The highest figure is 8% of the city's employees' wages in the previous year.

Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC) stipulates that individuals who have participated in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for 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.