How to calculate social endowment insurance?

Legal analysis: the insured will get more pensions every year, which is conducive to the formation of an incentive and restraint mechanism of "more work and more pensions". The specific calculation scheme is: (provincial base+my indexed monthly average payment salary) /2× payment period (including deemed payment period, the same below) × 1%+ personal account storage balance at first collection/. First, the "middle-aged" basic pension = basic pension+personal account pension+transitional pension = the average monthly salary of employees in the whole city in the previous year before retirement ×20% (if the payment period is less than 15, 15)+ personal account principal and interest and indexed monthly average payment salary × 65438+. Second, the basic pension of "newcomers" = basic pension+personal account pension. The basic pension is calculated and paid according to 20% of the average monthly salary of employees in this city in the previous year when I retire, and the personal account pension is calculated and paid according to the amount stored in my account divided by 120. (Note: Due to objective reasons, the calculation standards of some cities in China may be different. )

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

Tenth employees should participate in the basic old-age insurance, and employers and employees should 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.

Sixteenth individuals who participate 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.