Employers make payments to the pension fund every month. The amount of payments is 20% of the salary of each employee. To calculate which old-age pension is due to each employee upon reaching retirement age, an economist must know the procedure for calculating it.
Instructions
Step 1
At the beginning of the calculation, find out the total length of service of the employee, the average salary for the reporting period.
Step 2
To calculate the pension, take a package of necessary documents for one employee. The package includes the following documents: an employee's application for calculating a pension, a passport or any other document that proves the employee's identity, an insurance certificate, documents of work experience and a certificate of the average salary for a period of continuous work experience, including any 5 years of all work activity …
Step 3
Since the old-age pension includes three components, make a calculation for each of the three components and sum them up in the end.
Step 4
The basic component is established by the state, its size fluctuates depending on the age of the employee, whether he has dependents (and their number) or any restriction of the employee to work. Determine its size according to point 7.
Step 5
The next component of the pension - the insurance one - should be determined according to the calculation, taking into account that its size is directly proportional to the size of the pension capital.
Step 6
The third component is the funded part of the pension, which depends on the size of the total amount of voluntary contributions made to the pension fund and income from the investment of pension funds.
Step 7
To determine the basic component of the pension, calculate the ratio of the product of the average monthly salary of the insured employee for the reporting period and the seniority ratio by the product of the average monthly salary of the employee and the salary ratio approved by the government.
Step 8
To calculate the pension capital, determine the difference between the calculated and the basic pension and multiply it by the period for which the old-age labor pension is expected to be paid.
Step 9
Calculate the insurance component of your pension. To do this, the size of the pension capital should be divided by the period for which the payment of the old-age labor pension is expected.
Step 10
Determine whether the employee is entitled to a pension supplement, if the result is positive, calculate its size and add it to the calculated pension.
