Yunxiao County Urban and Rural Residents Social Pension Insurance Management Center

According to the pension calculation method, the pension of an employee at the time of retirement is calculated by the following formula:

Participants on and after January 1, 1996

Pension=base pension+personal account pension

Participants who joined the workforce before January 1, 1996

Pension=base pension+personal account Pension + Transitional Pension

Basic Pension = average monthly salary of local on-the-job workers in the previous year (1 + my average contribution index) ÷ 2 × years of contribution × 1%

In the formula: my indexed average monthly contribution salary = average monthly salary of local on-the-job workers in the previous year × my average contribution index

For example, according to the above formula, assume that when the male worker retires at the age of 60, he will be entitled to an individual account pension, which is the same as the basic pension for the individual account. years old when he retires, the average monthly salary of local on-the-job workers in the previous year is 4,000 yuan.

When the cumulative contribution period is 15 years, and the average personal contribution base is 0.6, the basic pension = (5000 yuan + 5000 yuan × 0.6) ÷ 2 × 15 × 1% = 600 yuan

When the average personal contribution base is 1.0, the basic pension = (5000 yuan + 5000 yuan × 1.0) ÷ 2 × 15 × 1% = 750 yuan

According to the above formula, assuming that the local average monthly salary of the previous year's employed workers is 4000 yuan at the time of retirement.

When the average individual contribution base is 3.0, the basic pension = (5000 yuan + 5000 yuan × 3.0) ÷ 2 × 15 × 1% = 1500 yuan

When the cumulative contribution period is 40 years,

When the average individual contribution base is 0.6, the basic pension = (5000 yuan + 5000 yuan × 0.6) ÷ 2 × 40 × 1% = 1600 yuan Yuan

When the average individual contribution base is 1.0, the basic pension = (5000 yuan + 5000 yuan × 1.0) ÷ 2 × 40 × 1% = 2000 yuan

When the average individual contribution base is 3.0, the basic pension = (5000 yuan + 5000 yuan × 3.0) ÷ 2 × 40 × 1% = 4000 yuan

Personal pension = Base Pension + Personal Account Pension = Base Pension + Personal Account Savings ÷ 139

Personal Account Pension = Personal Account Savings at Retirement ÷ Number of Months of Crediting (The number of months of crediting is based on the retirement age and the average life expectancy of the population at that time. The number of months of payment is slightly equal to (average life expectancy of the population - retirement age) x 12.

The number of months of payment is 195 months for age 50, 170 months for age 55, and 139 months for age 60.

For example, if a person retires at the age of 55 and has a balance of 51,000 yuan in the personal account, the personal account pension will be

51,000 yuan ÷ 170 months = 300 yuan/month

Transitional pension = (average monthly salary of local employees on the job in the previous year at the time of the participant's retirement + his or her indexed average monthly contributory salary) ÷ 2 × deemed years of contribution × 1.4%

Transitional pensions are valid only for those who participated in the scheme before 1996. The deemed contribution period is the period from the time you joined the work to the time you started to pay the pension insurance, including the period when the youth went to the countryside is regarded as the length of service. You need to provide your own file before you report to the social security bureau for review and determination.

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