The calculation method of personal pension is as follows: 1. Pension = basic pension + personal account pension; 2. Personal account pension = personal account savings amount / number of months; 3. Basic pension = (the province’s previous year’s employment

The average monthly salary of employees + my average monthly contribution salary indexed) / 2 * payment period * 1% = the average monthly salary of employees in the province in the previous year (1 + my average payment index) / 2 * payment period * 1%.

Pension insurance collection process: 1. Application: The insured unit brings the above-mentioned processing procedures to the local social security department to submit an application; 2. Preliminary review: The staff will review the procedures submitted by the insured unit, and those who meet the requirements will be accepted in a timely manner; 3. Acceptance:

The staff conducts business review, process operations, and preliminary opinions on proposals, and submits the procedures to the section chief for review, and generates fund payment plans and pension payment details that meet the requirements; 4. Completion: the director stamps the business form, and the system generates pension funds

Socialized pension issuance data is transmitted, and pension issuance organizations distribute pensions.

To sum up, the calculation formula of personal social pension insurance is: pension = basic pension + personal account pension.

Legal basis: Article 12 of the "Full Text of the Social Insurance Law of the People's Republic of China and the People's Republic of China" The employer shall pay basic pension insurance premiums in accordance with the proportion of the total wages of its employees stipulated by the state, and record them into the basic pension insurance overall fund.

Employees should pay basic pension insurance premiums in accordance with the proportion of their wages stipulated by the state and record them into their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in basic pension insurance in the employer, and other flexible employment personnel who participate in basic pension insurance shall pay basic pension insurance premiums in accordance with national regulations and record them separately in the basic pension insurance pooling fund

and personal accounts.