Calculation formula of social insurance premium

The calculation formula of pension insurance benefits: monthly basic pension = basic pension+personal account pension, in which basic pension = (average monthly salary of employees in the whole province last year+average monthly payment salary of myself) /2* payment period * 1%= average monthly salary of employees in the whole province last year. Personal account pension = total amount stored in personal account/calculation months.

legal ground

Article 15 of the Social Insurance Law of People's Republic of China (PRC) stipulates that old-age insurance 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.