How to calculate the pension in Shenzhen

The monthly pension of the insured in Shenzhen is the sum of his basic pension and personal account pension. Personal account pension = personal account storage amount ÷ months. Basic pension = last year's average monthly salary of employees in the province+my average monthly payment salary ÷2× payment period × 1%.

Legal objectivity:

"Social Insurance Law of People's Republic of China (PRC)" 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 for fifteen years at 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. "People's Republic of China (PRC) Social Insurance Law" Article 18 The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner. Article 19 of the Social Insurance Law of People's Republic of China (PRC), if an individual is employed across the overall planning area, his basic old-age insurance relationship will be transferred accordingly, and the payment period will be calculated cumulatively. When an individual reaches the statutory retirement age, the basic pension is calculated in stages and distributed uniformly. Specific measures shall be formulated by the State Council.