How much pension you can receive depends mainly on the length of individual contribution years, the level of individual contribution base and the average salary in local society.

Pension = Basic Pension + Personal Account Pension Personal Account Pension = Personal Account Savings ÷ Number of Calculated Months (The number of Calculated Months is determined based on the retirement age and the average life span of the population at that time. The number of Calculated Months is slightly equal to (population

Average life expectancy - retirement age)

Average salary paid) ÷ 2 × years of payment

The average monthly salary of employees in the province in the previous year

The historical average of the ratio of the payment base to the average social wage.

The low limit is 0.6 and the high limit is 3.

Therefore, in the two calculations of pensions, no matter what the situation, the higher the contribution base and the longer the payment period, the higher the pension will be.

The receipt of pensions is stipulated indefinitely. As long as the recipient survives, he can enjoy the benefits of receiving pensions on a monthly basis. Even if the personal account pension has been used up, the basic pension will continue to be calculated and paid according to the original standard. Moreover, individuals

Pensions will also increase year by year based on the increase in the average monthly wages of employees in the society.

Therefore, the longer you live, the more you can receive, which is definitely more cost-effective compared to paying fees.

Legal basis: Article 10 of the "Social Insurance Law" states that employees shall participate in basic pension insurance, and the employer and the employee shall jointly pay the basic pension insurance premiums.

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 can participate in basic pension insurance, and the basic pension insurance premiums are paid by individuals.

The measures for pension insurance for civil servants and staff managed with reference to the Civil Servant Law shall be prescribed by the State Council.

Article 11 Basic pension insurance shall be implemented through the combination of social pooling and personal accounts.

The basic pension insurance fund is composed of employer and individual contributions and government subsidies.

Article 12 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 credit 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.

Article 15 The basic pension consists of the overall pension and the personal account pension.

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.

Article 16: Individuals who participate in basic pension insurance and who have made cumulative contributions for fifteen years when reaching the statutory retirement age shall receive basic pensions on a monthly basis.

Individuals participating in basic pension insurance who have paid less than fifteen years of cumulative contributions when they reach the legal retirement age can pay for fifteen years and receive basic pensions on a monthly basis; they can also transfer to new rural social pension insurance or urban resident social pension insurance.

, enjoy corresponding pension insurance benefits in accordance with the regulations of the State Council.