How to calculate the pension equivalent payment index of provincial institutions in Jilin Province

The calculation method of pension deemed payment index of provincial institutions in Jilin Province is usually determined according to the position, level and length of service of employees. The specific calculation method may vary from region to region and unit, but generally speaking, the deemed payment index is determined according to the length of service and job level of employees.

Old-age pension refers to an economic compensation obtained by the insured from the state and society after reaching the legal retirement age, which is used to protect the basic needs of life after retirement. The calculation of pension involves many factors, including payment period, payment base, personal account balance and so on. Generally speaking, the longer the payment period, the higher the payment base, the more personal account balance, and the more pensions you receive after retirement. In addition to basic pension, there are personal account pension and transitional pension. Personal account pension is calculated by dividing the personal account balance by the number of months; The transitional pension is calculated according to the local average wage of employees in the previous year and the payment period. Length of service refers to the number of years employees have worked in the unit. The longer the length of service, the higher the deemed payment index. Job level refers to the employee's job level in the unit. The higher the position level, the higher the payment index.

To sum up, the calculation method of pension deemed payment index of provincial institutions in Jilin Province is determined according to the length of service and job level of employees. The specific calculation method may vary from region to region and unit, but it is usually based on these factors to calculate the deemed payment index.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 15

The basic pension consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

Article 16

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of 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.