The pension algorithm is quite complex, because the national every year's policy and the payment cardinal number are changing. The pension is generally is composed of the foundation pension and individual account pension and the transitional pension three parts. The basic formula is as follows: The basic pension = retires the preceding year whole city staff monthly mean wages ×20%+ individual account principal and interest and ÷120+ the regulation factor. Makes concrete take Xiamen as the example, if you are in 2010 retire, applies mechanically the above formula basic pension =3038 Yuan (to retire the preceding year whole city staff monthly mean wages) *20%+200 the Yuan in December *15 year (individual account principal and interest and) ÷120=907.6 the Yuan therefore said that hands over the old-age insurance to hand over more better, you more hand over more you retire when individual account principal and interest and are more, enjoy are more.

       Front I already mentioned actually at the end of December, 2009 releases "Cities Enterprise Staff Basic Old-age insurance Relations Shift Connection Tentative method Notice" stipulated:

      (one) individual account Chu Cune: before January 1, 1998, according to individual payment accumulation principal and interest computed jump, after January 1, 1998, according to includes individual account to store the amount on deposit computed jump completely.

      (two) plans the fund (unit payment): After myself January 1, 1998 various years actual payment wages is a cardinal number, according to 12% sum total shift, insured payment insufficient 1 year, according to actual payment number of months computed jump.  

      (three) the basic old-age insurance relations in the household register locus, handle the treatment by the household register locus to receive the procedure responsibly, enjoys the basic old-age insurance treatment.

      (four) the basic old-age insurance relations in the household register locus, but do not relate the locus accumulation payment year time expired 10 years in its basic old-age insurance, in this handles the treatment to receive the procedure, enjoys the locality basic old-age insurance treatment.

      (five) basic old-age insurance relations not in household register locus, and relates the locus accumulation payment age limit in its basic old-age insurance less than 10 years, returns on a payment year time expired 10 year original insured its basic old-age insurance relations to handle the treatment to receive the procedure, enjoys the basic old-age insurance treatment.

      (six) basic old-age insurance relations not in household register locus, and in each insured place's accumulation payment age limit less than 10 years, gathers together its basic old-age insurance relations and the corresponding fund to the household register locus, handles the treatment by the household register locus according to the stipulation to receive the procedure, enjoys the basic old-age insurance treatment. Is worth everybody attention specially a spot, some part of person household register in the native place, has also paid in the native place society guarantees, has also paid in the job site unit society guarantees. This produced two society to guarantee the account, moreover two places paid the age limit to amount to above ten years. Whether two accounts can merge? Two accounts are not then redundant the time section which pays to be able to merge, repeatedly pays the time section can only withdraw from the account part, was also the unit pays must change over to the national overall plan fund

      The old-age insurance needs to hand over the full 15 years later generally to retired time can enjoy the pension life-long, therefore wants to take the pension schoolmate should better before the own retired 15 years ago starts the junction, but arrives at time the retirement may also pay and submit less than 15 years, because the present country stipulated that starts from January 1, 2010, cannot handle draws back guarantees. That is, each person, so long as pays and submits the full 15 years to be able to enjoy the pension. But when to retirement pays the age limit also less than ten years, cannot disposable pay and submit, only could pay and submit monthly, explained with examples, if you to retirement time only then has handed over for 6 years, then you must hand over nine years to be able again to receive the pension, the standby period has been a little long…