In Zhejiang Jiaxing, if the social security base is 15,300, the amount of pension that can be received is calculated based on multiple factors. Here's a breakdown:
- Basic Pension:
- The formula is .(Last year’s average monthly wage of on - the - job employees in Jiaxing+Personal indexed average monthly contribution wage)/2×Contribution years×1%
- For example, if we assume the average monthly wage of on - the - job employees in Jiaxing is (data needs to be obtained from local official announcements), and the personal indexed average monthly contribution wage corresponding to a base of 15,300 is 15,300 (when the contribution index is 1). If the contribution years are Myears, the basic pension n. The higher the local average wage and the longer the contribution years, the more the basic pension.=(M+)/2×n×1%
- Personal Account Pension:
- The formula is .Personal account savings amount/Personal account pension calculation months
- The personal account savings amount . In Jiaxing, the personal contribution ratio for pension insurance is usually 8%. So, the annual contribution to the personal account is =Personal contribution base×Personal contribution ratio×Contribution months. Over ×8%×years, the personal account savings amount is n.×8%××n
- The personal account pension calculation months vary according to the retirement age. For a 50 - year - old retiree, it is 195 months; for a 55 - year - old, 170 months; and for a 60 - year - old, 139 months. For example, if a person retires at 60 years old after contributing for years, the personal account pension n.=×8%××n
- Transitional Pension (if applicable):
- This part is mainly for those with contribution years before the establishment of the personal account system. The calculation is rather complex and related to factors such as the pension calculation base, contribution years before the establishment of the personal account, personal average contribution index, and 视同缴费指数. Since the calculation rules vary by region, specific local regulations in Jiaxing need to be consulted.
In general, the total pension = basic pension + personal account pension+transitional pension (if any). To accurately calculate the pension amount, it is recommended to consult the local social security department, as the data of local average wages and specific policy details may change over time.