The accumulated savings in a personal pension account = the sum of the monthly personal salary within the payment period * 8%.

Pensions, also known as pensions and retirement payments, are the most important type of pension insurance benefits.

That is to say, relevant national documents stipulate that after workers become old or lose their ability to work, insurance benefits paid monthly or in a lump sum in the form of currency are based on their contributions to society and their qualifications for pension insurance or retirement conditions.

The need to benefit society is mainly used to ensure the basic living needs of employees after retirement.

According to Article 15 of the Social Insurance Law, basic pensions are composed of pooled pensions and personal account pensions.

The basic pension is determined based on the individual’s cumulative contribution years, contribution salary, average salary of local employees, personal account amount, average life expectancy of the urban population and other factors.

Socially coordinated pensions: Socially coordinated pensions come from social pooled funds composed of employer contributions and financial subsidies, and are determined based on factors such as individual payment years, contribution wages, and the average salary of local employees.

Social pooled pension = (the local average monthly salary of the previous year when the insured person retires + the individual’s indexed average monthly contribution salary) ÷ 2 × payment years × 1%.

Personal account pension: The monthly standard for personal account pension is the amount saved in the personal account divided by the number of payment months. The number of payment months is determined based on factors such as the employee's personal account amount at retirement, the average life expectancy of the urban population, and the individual's retirement age.