The formula for calculating a transitional pension usually consists of the following parts:
Basic pension: determined according to the number of years of individual payment and the payment base, the calculation formula is: basic pension = individual payment period payment base a certain percentage.
Transitional coefficient: determined according to the time when retirees participate in work and the time of reform of the pension insurance system, which is used to reflect the special nature of transitional pensions. In general, the transition coefficient decreases gradually as the gap between the working hours of retirees and the time of institutional reform increases.
Personal account pension: determined according to the amount of personal account savings and the number of months, the calculation formula is: personal account pension = personal account savings The number of months.
Combining the above three parts, the calculation formula of the transitional pension can be expressed as: transitional pension = basic pension + transitional coefficient personal account pension.
Taking a person who participated in the work before the reform of the pension insurance system and retired after the reform as an example, assuming that his personal payment period is 30 years, the payment base is 5,000 yuan, the personal account storage amount is 200,000 yuan, the number of months is 139 months, and the transition coefficient is 12。According to the calculation formula of the transitional pension, the transitional pension of the retiree is: basic pension = 30 years 5000 yuan 1% = 1500 yuan;Personal account pension = 200,000 yuan 139 months = 143885 yuan;Transitional pension = 1500 yuan + 12 × 1438.$85 = 322662 yuan.
Relevant Regulations. Social Insurance Law of the People's Republic of China: This law stipulates the basic principles, institutional framework and rights and obligations of all parties in social insurance, and provides a legal basis for the establishment of transitional pensions.
Decision on Improving the Basic Pension Insurance System for Enterprise Employees: The decision clarifies the overall objectives and specific measures of the reform of the pension insurance system, including the calculation method and payment standards of transitional pensions.
The specific implementation measures of the endowment insurance issued by the local government: the specific implementation measures of the endowment insurance will be formulated according to the actual local situation, and the calculation, distribution and management of the transitional pension will be specified in detail.