1, basic pension
Calculation formula of basic pension: the average monthly salary of local employees in the previous year (1+ my average contribution wage index) ÷2× payment years × 1%.
The calculation formula of my average contribution wage index: (my contribution wage in the 65438th year+the average wage of employees in the previous year in the 0th year+……+my contribution wage in the nth year/the average wage of employees in the nth-65438th year+the 0th year) ÷ Actual payment period.
2. Personal account pension
The calculation formula of personal account pension: the accumulated amount of personal account (including interest) at retirement ÷ the number of months corresponding to my retirement age.
The calculation formula of sea pension is the total amount of personal basic pension plus personal account pension. Because there is no accurate standard for the relevant data, the documents provided by the Social Security Bureau for retirement shall prevail. The document will specify the average salary of the individual, the year of insurance participation and other data, and the specific pension will also be marked.
Relevant legal documents
According to the provisions of Article 11 of the Social Insurance Law of People's Republic of China (PRC), the basic old-age insurance combines social pooling with individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.
Article 12 The employing unit shall pay the basic old-age insurance premium in proportion to the total wages of its employees as stipulated by the state, and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.
Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.
Thirteenth, employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premium paid by the government as the payment period. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.
China People's Congress Network-People's Republic of China (PRC) Social Insurance Law.