The calculation of the basic pension for enterprise retired employees involves many factors, such as payment period, payment wage index, personal account storage, retirement age, average salary of employees in the previous year at the time of retirement, etc. Without specific data, it is impossible to calculate how much basic pension the parties can receive when they retire.
At present, the basic pension for retired workers is calculated as follows:
Basic pension = basic pension+personal account pension+transitional pension:
1, basic pension
Basic pension refers to the pension paid to retirees from the basic old-age insurance pooling fund. The monthly standard of basic pension at retirement is based on the average monthly salary of local employees in the previous year and my indexed monthly salary, and the payment is paid to 1% every1year.
Basic pension = (average monthly salary of employees in the last year in the overall planning area+average monthly salary of myself) /2 × payment period ×1%;
Index average monthly salary = average payment index × average monthly salary of employees in the previous year when they retire as a whole;
Average payment index = annual payment index/payment period;
Payment wage index = payment wage in the current year/average monthly wage of employees in the last year as a whole.
2. Personal account pension
Personal account pension refers to the pension calculated according to the personal account storage of basic old-age insurance when the insured retires. Personal account pension = personal account storage amount ÷ months. The calculated number of months does not refer to the number of months that retirees actually receive the basic pension (because it is unpredictable when they retire), but a hypothetical indicator calculated according to factors such as the average life expectancy of urban population.
Personal account pension = personal account storage balance/months;
3. Transitional pension
The insured who took part in the work before the implementation of Document No.26 [1997] and retired after the implementation of Document No.38 in 2005 belong to "middle people". Due to the accumulation of personal accounts in the past, if the accumulated payment period is 15 years, a transitional pension will be given on the basis of basic pension and personal account pension after retirement. Transitional pension payment measures shall be implemented in accordance with the specific measures formulated by provinces, municipalities directly under the central government and autonomous regions.
Transitional pension = the average monthly payment salary of the insured when he retires × 1.3%× the payment period of the insured before the establishment of personal account (calculated to the current month).