Pension calculation method

The calculation method of pension is basic pension+personal account pension, and 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.

First, the calculation method of pension

Basic pension = (average monthly salary of employees in the whole province in the previous year+average monthly payment salary of myself) ÷2× payment period × 1% = average monthly salary of employees in the whole province in the previous year (1+ average monthly payment index of myself) ÷2× payment period × 1%, average monthly payment salary of myself =

Second, about pensions.

Pension, also known as pension and retirement fee, is a kind of social endowment insurance in China. According to the relevant national documents, pension is defined as: insurance benefits paid in cash on a monthly basis or at one time according to its contribution to society and its eligibility or retirement conditions. Pensions are accumulated and operated according to the principle of accumulation by the state, the collective and the individual. When people are in their prime of life, part of the wealth created is invested in pension plans to ensure a sense of security in their later years. Individuals who participate in the basic old-age insurance can receive the basic old-age pension on a monthly basis if they have paid 15 years when they reach the statutory retirement age.

According to relevant regulations, the legal retirement age of employees in Chinese enterprises is 60 for men, 50 for women employees and 55 for women cadres. Recently, the State Council issued the Notice on Establishing the Central Adjustment System of the Basic Old-age Insurance Fund for Enterprise Employees, and decided to establish the central adjustment system of the old-age insurance fund, which will be implemented from July 1 July108. Implementing the central adjustment system of endowment insurance funds will not increase the payment burden of enterprises and individuals, nor will it affect the treatment level of retirees.