China's current retirement policy stipulates that female employees can retire at the age of 50, female cadres at the age of 55, and male employees at the age of 60. This applies to active employees who have already paid social insurance for 15 years. 
For example, a male employee born in 1964 with 32 years of service and 60 years old in 2024 can apply for retirement and receive a monthly pension. The pension mainly includes three parts: basic pension, personal account pension and transitional pension. Key factors that affect the amount of pensionWhen calculating the amount of pension, there are several key factors to consider:Individual's pension contribution index. The index reflects the level of contributions and the level of the social security base of individuals. The higher the index, the higher the base part of the pension. The balance of the pension insurance personal account. This balance directly determines the amount of pension calculated in the account. The higher the balance, the higher the account pension. Local pension payment base. The higher the local base, the higher the basic pension. The deemed contribution period for an individual. Different regions have different regulations on the deemed years, generally using 1995 or 1998 as the node. The longer the deemed period, the higher the transitional pension. Retirement age. When men retire at the age of 60, the number of months they can receive a pension increases accordingly. The combination of these factors will determine the overall pension level of the male worker. In particular, the contribution index and the level of the account reserve amount are the most critical. 
Calculation of the retirement pension of male workers in 1964We can use a simulation to calculate the total amount of pension that a male employee born in 1964 may receive after retirement in 2024. The assumptions are as follows:The local deemed payment period is set before 1995;The male worker is therefore considered to have paid for 3 years (32 years of service - 1995). Its pension contribution index is 085。The balance of his pension insurance personal account is 100,000 yuan. The local social security payment base is 7,600 yuan per month. The number of months that a 60-year-old man can receive a pension after retirement is 139 months. The transition factor set locally is 13%。We can calculate the basic pension, account pension and transitional pension separately through the formula. Basic pension = 7600 (1+0..)85) 2 32 1% = 2,250 yuan account pension = 100,000 139 = 719 yuan transitional pension = 7,600 085×3×1.3% = 252 yuan, the sum of the three pensions = 2250 + 719 + 252 = 3221 yuan, which is a medium-level retirement pension. Let's take another example with a higher contribution index:If the male worker's contribution index reaches 185, the account balance of 220,000 yuan, other conditions remain unchanged, then: basic pension = 3466 yuan account pension = 1583 yuan transitional pension = 548 yuan the sum of the three = 5597 yuan higher than the previous estimate of about 2000 yuan. It can be seen that the contribution index and account reserves have a great impact on the pension actually received by individuals. 
This also explains why retirees of the same length of service may receive very different pension benefits. In summaryFrom the above simulation calculation, it can be seen that the basic retirement pension level is about 3000-5500 yuan. This is in line with the actual level of retired employees in most enterprises. The higher individual pensions are mainly due to the higher contribution index, higher account reserves and longer deemed contribution periods. Therefore, when choosing an enterprise and planning a career, employees must consider the quality of the enterprise's social security payment and improve their social security payment index. 100 help plan