Chongqing social security payment formula

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If the insured pays the old-age insurance premium, a late payment fee of 5/10000 shall be added daily from the date of payment.

Pension is calculated as follows:

1, pension = basic pension+personal account pension

2, personal account pension = personal account storage amount ÷ months (the number of months is determined according to the retirement age and the average life expectancy of the population at that time. Calculated months are slightly equal to (average life expectancy-retirement age) X 12. At present, 50 years old is 195, 55 years old is 170, and 60 years old is 139.

3. Basic pension = (average monthly salary of employees in the province last year+average monthly payment salary indexed by myself) ÷2× payment period × 1%= average monthly salary of employees in the province last year (1+ average payment index by myself) ÷2× payment period × 1%.

4. In the formula: my indexed monthly average payment salary = the average monthly salary of employees in the whole province in the previous year × my average payment index.