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How to calculate pension fixed income

Those who did not participate in the basic pension insurance should participate in the basic pension insurance before June 30, 1998. After July 1, 1998, they should go through the insurance supplementary payment procedures, reach the retirement age stipulated by the state, and have a cumulative payment period of 15 years.

Received on a monthly basis: Basic pension = (average monthly salary of employees in the province in the previous year × a + my average indexed monthly contribution salary) ÷ 2 × payment period (including deemed payment period) × 1%; personal account pension = individual

Account savings amount ÷ number of months for personal account pension calculation; the sum of the above two items is the monthly payment amount.

Note: The basic pension is adjusted annually in July every year according to the plan announced uniformly by the province.