When individual social security retires, pension consists of basic pension and personal account pension. Among them, personal account pension = personal account storage amount ÷ months. Personal account storage refers to the accumulation of social security fees and interest paid by employees. Interest is calculated according to the bookkeeping rate published annually. If the employee retires or dies less than one year, the bookkeeping interest rate of the current year is calculated at half of the bookkeeping interest rate of the previous year.

Suppose an employee retires in June 2020, with a deposit of 200,000 yuan in his personal account, the bookkeeping interest rate in 2020 is 4%, the bookkeeping interest rate in 20 19 is 3.5%, and the bookkeeping month is 170. Then, his personal account pension = (200,000× (1+3.5% ÷ 2)+the amount collected in June× (1+4%) ÷170, that is, his personal account pension =1270.