In Shaoxing, Zhejiang, if the social security base is 7,900 yuan, the amount of pension that can be received is calculated based on the following aspects:
- Basic pension: The formula is . The average monthly wage of on - the - job employees in the province in the previous year needs to refer to the local statistical data of that year. The indexed average monthly contribution wage = average monthly wage of on - the - job employees in the province in the previous year×My average contribution index. Suppose the average monthly wage of on - the - job employees in the province in the previous year is (Average monthly wage of on - the - job employees in the province in the previous year+My indexed average monthly contribution wage)÷×Contribution years×1%yuan, and the contribution years is Myears, and the average contribution index is n. Then the basic pension = a.(M+M×a)÷×n×1%
- Personal account pension: The formula is . The personal account balance is the sum of the contributions made by individuals over the years. The number of months for calculation is related to the retirement age. For example, if you retire at 60 years old, the number of months for calculation is 139 months.Personal account balance at retirement÷Number of months for calculation
- Transitional pension (if applicable): For those who started working before a certain period (such as before 1996 in some regions), there may be a transitional pension. The formula is . The specific calculation is more complex and needs to refer to local policies.Index of deemed contribution×Calculation base×Deemed contribution years×Transitional coefficient
It should be noted that the above calculations are only theoretical estimates. The actual amount of pension received is also affected by factors such as local policies, changes in contribution ratios over the years, and the specific implementation of pension adjustment mechanisms. To obtain an accurate amount, it is recommended to consult the local social security department.
