The monthly retirement living expenses of retirees are composed of basic living expenses, paid living expenses and transitional adjustment funds.

Analysis:

Calculation and payment of specific amount:

(1) basic living expenses (average monthly salary of local employees in the previous year when the insured retires) ÷2× average monthly salary of the insured × 2) average monthly salary of the insured × payment period × 3) The transitional adjustment fund takes 80 yuan as the base, and those who retire from 2006 to 20 14 years will be paid according to the following proportion. If you resign after 20 15, the transitional adjustment fund will no longer be issued. The payment period, the average monthly salary of local employees in the previous year and the average indexed monthly payment salary shall be implemented in accordance with the relevant provisions of retirees. Basic living expenses and transitional adjustment funds are paid from the overall fund. The payment of living expenses shall be paid from the overall fund and individual account fund respectively according to the proportion of the payment period before and after the account is established; After the individual account is paid, the payment of living expenses is paid from the overall fund. After the death of a retiree, the personal payment principal and interest in the personal account can be inherited by his legal heir or designated beneficiary. If the payment period is less than 15, the retirement living expenses will be settled in one lump sum and the pension insurance relationship will be terminated.

Legal basis:

Interim Measures for Retirement and Resignation of Workers Article 1

Workers in enterprises and institutions owned by the whole people, party and government organs and mass organizations shall retire if they meet one of the following conditions.

1. I voluntarily apply for early retirement of government functionaries, employees of enterprises and institutions, employees of state-owned restructuring enterprises who have terminated their labor relations, or disabled people who are injured due to illness or non-work-related injuries;

2. If the male is over 50 years old and the female is over 45 years old, the earliest record in the file shall prevail. Applicants for resignation are not subject to age restrictions;

3, pay endowment insurance (including deemed payment) for fifteen years;

4. There is an original or stamped copy of the effective medical information of the medical institution.