2. Basic pension = basic pension+personal account pension+transitional pension.
Transitional pension: As an integral part of the basic pension, it refers to those who joined the work before the introduction of the new system and then retired. Because their previous working years did not have personal accounts, their personal accounts after retirement could not fully reflect their labor contributions. Therefore, the basic pension after retirement should be added with the pension without personal account years, and this part should be compensated in the form of transitional pension.
Transitional pensioners:
The following insured persons have deemed payment rights and have established deemed payment accounts, and are entitled to a transitional pension.
1, 1 998 participated in the basic old-age insurance before June 30, 2006, and after July1,they are eligible to receive the basic pension on a monthly basis;
2. 1. 0998 After July, those who participated in the basic old-age insurance had the deemed payment period stipulated by the state before joining the insurance, and after July, 2006 1, they were eligible to receive the basic pension on a monthly basis.
How to calculate transitional pension
Calculate the indexed monthly average payment salary.
1. Calculate the monthly payment index: take the monthly payment salary of employees from work to retirement and divide it by the average monthly salary of employees in this city in that year.
2. Calculate the average payment index: add up the monthly payment indexes of employees' payment years from work to retirement, and divide them by the number of months of their payment years to get the average payment index.
3. Calculate the indexed monthly average payment salary: multiply the average payment index by the average monthly salary of employees in this city in the previous year at the time of retirement to get the indexed monthly average payment salary.
Proportion of transitional pension:
1If the payment period is less than 25 years before July 1992, the enjoyment ratio is1992×1.2%;
1If the payment period exceeds 25 years before July 1992, the enjoyment ratio is 30%+(125 years before July 1992) × 1%.
Transitional pension indexed monthly average payment salary × enjoyment ratio.
legal ground
state council on the establishment of a unified basic old age insurance system for enterprise employees in
Five, after the implementation of this decision to participate in the work of employees, personal payment period accumulated over 05 years, after retirement to a monthly basic pension. Basic pension consists of basic pension and personal account pension. When retiring, the monthly standard of basic pension is 20% of the average monthly salary of employees in the province, autonomous region, municipality directly under the Central Government or prefecture (city), and the monthly standard of personal account pension is the amount stored in my account divided by 120. If the individual payment period is less than 15 years, he will not enjoy the basic pension after retirement, and the amount stored in his personal account will be paid to him in one lump sum.
Those who have retired before the implementation of this decision will still be given pensions according to the original provisions of the state, and the pension adjustment measures will be implemented at the same time. All regions and relevant departments should further improve the normal adjustment mechanism of basic pensions in accordance with state regulations and conscientiously implement them.
If you work before the implementation of this decision, retire after the implementation, and the cumulative period of individual payment and deemed payment is over 15 years, a transitional pension will be issued on the basis of basic pension and personal account pension, and the transitional pension will be solved from the endowment insurance fund. Specific measures shall be formulated and implemented by the Ministry of Labor in conjunction with relevant departments.
People's Republic of China (PRC) social insurance law
Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts.
The basic old-age insurance fund consists of employers, individual contributions and government subsidies.
Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund.
Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.
Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.
Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government.
When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.