Pension formula calculation: basic pension = basic pension + personal account pension + transitional pension. Basic pension = (average monthly salary of employees in the coordinated area in the previous year at the time of retirement + my average indexed monthly contribution salary) / 2 × payment

Number of years

The cumulative payment period for those who have not established a personal account on or before December 31, 1995 × 1.3% (calculation coefficient).

How to check your retirement salary 1. Search the official website of the Human Resources and Social Security Bureau in the location where social security is located. After entering the official website, click "Online Services" in the navigation bar; 2. Click personal login to register, and log in after registration.

3. Enter the query page, and in the personal information query, query personal pension payment information.

According to the provisions of Article 16 of the "Social Insurance Law", urban and rural residents who are over 60 years old and have not enjoyed retirement (retirement) or various benefits stipulated in the "Municipal Basic Pension Security Measures" and meet the following conditions can receive monthly benefits.

Pensions: 1. When this policy is implemented, urban and rural residents who are over 60 years old and have not enjoyed retirement (retirement) or various benefits stipulated in the "Municipal Basic Pension Security Measures" do not need to pay and can receive basic pensions on a monthly basis;

2. When this policy is implemented, those who are less than 15 years away from the age of receipt must pay pension insurance annually; 3. When this policy is implemented, those who are more than 15 years away from the age of receipt, the cumulative payment years must be no less than 15 years.

According to the pension financing method, in practice, the pension financing methods formulated by enterprises can be divided into retirement methods with deposited funds and retirement methods without deposited funds.

Retirement method of deposited funds: Enterprises withdraw retirement funds and hand them over to independent trust institutions, such as banks or insurance companies, for safekeeping and use. When employees retire, the trust institution pays pensions from the retirement funds.

An enterprise shall not withdraw pension funds unless it has fully fulfilled its pension payment obligations.

Retirement methods without deposited funds: The enterprise does not withdraw the retirement funds and transfer them to the trust institution for safekeeping and use, or although the enterprise withdraws the retirement funds, it keeps and uses them instead of delivering them to the trust institution for safekeeping and use. When employees retire, the enterprise raises funds on its own to pay

pension.

Compared with the retirement method of depositing funds, this method lacks protection for employees’ pensions.

Legal basis: Article 15 of the "Social Insurance Law of the People's Republic of China" states that basic pensions consist of pooled pensions and personal account pensions.

The basic pension is determined based on the individual’s cumulative contribution years, contribution salary, average salary of local employees, personal account amount, average life expectancy of the urban population and other factors.