Tianjin pension consists of basic pension, personal account pension and transitional pension.

1, basic pension = (average monthly salary of local employees in the previous year when the insured retires) /2* payment period * 1%.

2. Personal account pension = amount accumulated in personal account when the insured retires/number of months.

3. Transitional pension (in different provinces and cities) = my indexed monthly average payment salary × payment period before unified accounting × 1.2%. Transitional pension is mainly aimed at people who have already taken part in the work before the formal payment of endowment insurance in China.