Pension calculation of government agencies and institutions:
Newcomer pension:
Newcomers refer to those who joined on or after 20 14 10 1 and their basic pension consists of basic pension and personal account pension.
The basic pension will be paid to 1% every year, based on the average monthly salary of employees in this city in the previous year and my indexed monthly average salary. Personal account pension is calculated according to the amount of principal and interest paid by me divided by the specified number of months. The basic pension benefits are closely linked to my payment. The higher the payment level, the longer the payment time, the later the retirement and the higher the pension.
Calculation method:
Monthly basic pension = basic pension+personal account pension. Basic pension = the average monthly salary of employees in this city in the previous year at the time of retirement ×( 1+ my average payment wage index) ÷2× payment period × 1%. Personal account pension = personal account storage amount ÷ months.
"Middle-aged" pension:
"Middle-aged people" who joined the work before September 30, 20 14, and retired after June 10, will receive basic pension, personal account pension and transitional pension. The transitional pension is multiplied by the deemed payment index according to the average monthly salary of employees in this city in the previous year, and is deemed to be paid to 1% every full year. The deemed payment index is determined according to the post level (technical level) and working years when I retire. In other words, the higher the post at retirement, the longer the length of service before the reform and the higher the transitional pension.
Calculation method:
Monthly basic pension = basic pension+personal account pension+transitional pension.
(1) basic pension = the average monthly salary of employees in this city in the previous year at the time of retirement ×( 1+ my average payment wage index) ÷2× payment period (including deemed payment period )×1%. Among them, my average payment wage index = (deemed payment index × deemed payment period+actual average payment index × actual payment period) ÷ (deemed payment period+actual payment period).
(2) Personal account pension = personal account storage amount ÷ months.
(3) Transitional pension = average monthly salary of employees in this city in the previous year at the time of retirement × deemed payment index × deemed payment period × 1%.