What is a pension? Retirement pension is a monthly or lump-sum insurance benefit paid by the state in the form of money according to the social insurance system according to the contribution to society and the qualifications or retirement conditions of the workers after they are old or lose their ability to work. It is mainly used to protect the basic needs of employees after retirement. What are the conditions for receiving a pension? How to calculate the pension? Two conditions for receiving social insurance pension after retirement: 1. The actual payment period of the insured 10 years or more; The insured person reaches the statutory retirement age (if he reaches the retirement age and the payment period is insufficient, he will continue to pay until he pays in full). 2. Pension calculation and payment method: If the pension reaches the statutory retirement age and the accumulated payment period reaches 10 or 15 or above, the basic pension will be calculated and paid according to the following methods: monthly basic pension = basic pension+personal account pension. Pension calculation method: 1. Basic pension = (the average monthly salary of employees in the whole province in the previous year at the time of retirement and the average monthly payment salary of employees) /2× payment period) × 1%. 2. Personal account pension = the amount of personal account storage at retirement/the number of months corresponding to my retirement age. If there is an one-child certificate, the total pension will increase by 5%. 65438+1September 30, 998 or before, there is also a transitional pension. 3. Three factors that affect the pension amount: 1. At the time of retirement, the provincial average salary in the previous year (the provincial average salary is increasing every year, and the pension is increasing year by year. Therefore, the later the retirement time, the more pensions); 2 my payment period (including actual payment period and deemed payment period). The longer the payment period, the more pensions); 3. Personal account amount (the more contributions, the more pensions).