Calculation method of individual insured pension

Calculation method of pension: the formula for receiving pension after retirement: total monthly pension = basic pension+personal account pension. Basic pension = (average monthly salary of employees in Chengdu last year+average monthly payment salary of myself) ÷2× payment period × 1%. Personal account pension = personal account storage amount ÷ personal account pension months = basic pension+personal account pension basic pension = (when the insured retires, the average monthly salary of local employees in the previous year+the average monthly payment salary of the insured) ÷2× individual cumulative payment period ×l% average monthly payment salary of the insured = when the insured retires, the average monthly salary of employees in the whole province × the average monthly payment salary index of the insured pays the basic old-age insurance premium.

legal ground

Article 26 of the financial system of social insurance funds? The expenditure of the basic old-age insurance fund for urban and rural residents includes pension insurance benefits expenditure, transfer expenditure, subsidy to lower levels, higher levels and other expenditures. Expenditure on pension insurance benefits includes basic pension and personal account pension paid to insured urban and rural residents in accordance with regulations, as well as funeral subsidies. Basic pension refers to the pension benefits that are fully subsidized by governments at all levels according to regulations for insured urban and rural residents who meet the conditions for receiving benefits. Personal account pension refers to the pension benefits paid to the insured urban and rural residents, and the one-time expenditure of personal account when the insured urban and rural residents meet the conditions for receiving pension insurance benefits. One-time expenditure of personal account refers to the expenditure that individuals who participate in the basic old-age insurance for urban and rural residents return their personal account storage due to death, going abroad (border) and repeated payment of basic old-age insurance premiums for enterprise employees and basic old-age insurance premiums for urban and rural residents. Funeral allowance refers to the funeral allowance paid by the government to the survivors after the death of the insured in the area where the funeral allowance system is established. Transfer expenditure refers to the amount of funds transferred from individual accounts across regions or systems.

skill

The above answer is only for the current information combined with my understanding of the law, please refer carefully!

If you still have questions about this issue, I suggest you sort out relevant information and communicate with professionals in detail.