The calculation and payment of basic pension has nothing to do with the level of employees, but involves factors such as the payment period of the parties, the payment wage index, the amount of personal account, retirement age, and the average salary of employees in the previous year. Everyone's situation is different, so there is no way to compare whether workers at the same level retire in Jiangsu or Wuhan.

Although China's basic old-age insurance is currently coordinated at the provincial level, Wuhan and Jiangsu are different provinces, but for the same worker, the wage index should be recalculated according to the average wage of local employees over the years. Moreover, the calculation methods of basic pensions in different provinces and cities are exactly the same, and the basic pensions and personal account pensions are basically the same, and the calculation results of basic pensions will not be much different.

Social insurance law

Fifteenth basic pension consists of overall pension and individual account pension.

The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

Hubei Provincial Department of Labor and Social Security and Department of Finance

Notice on reforming the calculation and payment methods of enterprise occupational basic pension

E Lao She Wen [2006]No. 169

First, the basic pension plan and payment method

(1) Persons who have retired or resigned before the implementation of this Notice will still receive basic pensions according to the original treatment standards, and the basic pension adjustment measures will be implemented.

(2) 10 If you join the work after 0996+65438+65438, and the accumulated payment period has reached 15, you will be paid the basic pension on a monthly basis after retirement and resignation.

Basic pension consists of basic pension and personal account pension.

1, the monthly standard of basic pension is based on the average monthly salary of employees in the city and state where I worked one year before my retirement and the average monthly salary of my indexed contribution, and the payment will be paid to 1% every full year. Basic pension = (the average monthly salary of employees in the city and state where I retired last year+my indexed monthly average payment salary) ÷2× payment period × 1%.

2. The monthly standard of personal account pension is the amount of personal account storage divided by the number of months, which shall be implemented according to state regulations.

(3) For those who joined the work before 1 9951231and retired or resigned after12006, and the cumulative payment period is 15 years, transitional pension and adjustment payment will be paid on the basis of basic pension and personal account pension.

1. The transitional pension standard is: the product of the indexed monthly average payment salary when the insured retires or resigns, the deemed payment period and the transitional coefficient 1.2%.

Transitional pension = the average monthly salary of employees in the city and state where I retired last year × the average wage index of previous years before I retired × deemed payment period × 1.2%.

Jiangsu Provincial People's Government

Provisions of Jiangsu Province on Basic Endowment Insurance for Enterprise Employees

Nineteenth insured persons who meet the conditions stipulated in Article 18 of these Provisions shall be paid the basic pension by the social insurance agency on a monthly basis from the second month of the retirement time approved by the administrative department of labor security. Basic pension consists of basic pension and personal account pension:

(1) The basic pension is paid to 1% every 1 year based on the average monthly salary of employees in the whole province in the last year when I retire and the average monthly salary of my indexed contributions (if the number of payment months is insufficient1year, it will be converted into years);

(two) the personal account pension is determined by dividing the accumulated amount of my personal account by the number of months. The standard for calculating the number of months shall be implemented in accordance with state regulations.

Twenty-first before the implementation of these provisions 1995 12 3 1 the insured who participated in the basic old-age insurance and retired after the implementation of these provisions shall be given a transitional pension on the basis of the basic pension and personal account pension. The transitional pension is calculated according to the payment salary and payment period of the insured before the end of 1995, and then divided by 120 and paid monthly.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.