1. Retirement fee is the retirement treatment of retirees who have not participated in endowment insurance by the state finance; Pensions are paid by social insurance funds, and the retirement benefits of retirees who participate in endowment insurance;
2. Pensions are provided by organs or enterprises, and endowment insurance is withheld and remitted by insured units;
3. Pensioners are employees of enterprises and institutions, and pensioners are institutions and institutions.
The calculation method of pension is as follows:
Pension = basic pension+personal account pension, etc. Among them, the basic pension is (the average monthly salary of local employees in the previous year when employees retire+the average monthly salary indexed by themselves) ÷2× payment period ×1%; Personal account pension is the accumulated amount of personal account when employees retire.
Article 15 of the Social Insurance Law of People's Republic of China (PRC)
The basic pension 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.