PetroChina Transitional Annuity is PetroChina’s transitional pension.

The transitional pension is an integral part of the basic pension for “middle-class people” after the unified system.

For those who worked before the new system (or "combination of accounting and accounting") and later retired, because they did not have personal accounts during their working years before this, the amount of personal account savings at retirement did not reflect this period of time.

labor contribution.

Therefore, the basic pension at retirement cannot simply be calculated by adding the basic pension plus the personal account pension, but should be added to the pension without personal account years.

Transitional pensions solve this problem of pensions without individual account years.

Relevant knowledge: Set a 10-year transition period, and implement a comparison between the old and new methods during the transition period. If the pension insurance benefits (including occupational annuities, the same below) calculated under the new method are lower than those under the old method, the old method will make up the amount; the new method

If the salary is higher than that under the old method, the higher part will be 10% for those who retire in the first year, 20% for those who retire in the second year, and so on.

After the transition period, all benefits will be paid according to the new method.

The occupational annuity fund consists of four parts: unit payment, individual payment, occupational pension fund investment and operation income, and other income stipulated by the state. The management method is personal account management.