Calculate the pension increase from working at age 60 and beyond

Pension increase from working at age 60 and beyond

Increase = Earnings-related component of the old-age employees' pension + Transitional supplement to the old-age employees' pension

・Earnings-related component: The pension increases in proportion to average standard monthly remuneration and months worked.

・Transitional supplement: This cannot be increased if employees' pension coverage through age 60 already totals 480 months or more.

Formula for the earnings-related component

Average standard monthly remuneration × 5.481 / 1000 × Months of premium coverage at age 60 and beyond

(※1) Average standard remuneration is the sum of all monthly standard remuneration amounts and all standard bonus amounts, divided by the number of months.

Formula for the transitional supplement

Transitional supplement (for people born on or after April 2, Showa 21) = A - B

A = Flat-rate unit amount of the employees' pension for Reiwa 7 (1,734 yen or 1,729 yen) × Total months of employees' pension coverage (maximum 480 months)

B = Full old-age basic pension for Reiwa 7 (831,700 yen or 829,300 yen) × Months of employees' pension coverage between ages 20 and 60 / 480

If employees' pension coverage exists both before age 20 and at age 60 or beyond, allocate it between the respective effective periods to calculate the amount attributable to age 60 and beyond.

Periods covered only by the National Pension are not included in employees' pension coverage periods.

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