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Why is retirement at 60 divided by 139 months?
Because the average life expectancy of people over 60 in China is 139 months, it is divided by 139. The basic pension is paid by the state, and the monthly calculation and payment standard of personal account pension is the total storage amount of personal account divided by 139( 139 is the calculation and payment coefficient of new rural pension). This calculation method is to distribute the personal account funds evenly 139 months).

The basic old-age insurance premium is shared by enterprises and individual employees: enterprises pay a certain proportion of the total average monthly salary of employees in the previous year (19% in Beijing, which may be different in other cities), and individual employees pay a certain proportion of the average monthly salary of employees in the previous year (generally 8%). Urban individual industrial and commercial households, flexible employees and laid-off workers from state-owned enterprises who participate in the basic old-age insurance in their personal capacity shall pay the basic old-age insurance premium at a rate of 20% based on the average social wage in the province where they are located, and all of them shall be borne by themselves.

Legal basis:

Interim Provisions of the State Council Municipality on Handling Resignation and Retirement of State Organs and Calculating Working Years

Two, the staff before the establishment of People's Republic of China (PRC), to participate in the work of the people's democratic revolutionary political organs, should be counted as working years.

Three, the staff to participate in the work of state organs, to participate in the following work time, can be continuously calculated as working years:

(a) the time spent working in the Party organs in China, or the time spent actually engaged in revolutionary work under the cover of social occupation after accepting the Party's decision;

(2) Time spent working in organs of democratic parties, or time spent by members of democratic parties and Democrats without party affiliation actually engaged in democratic revolutionary work under the cover of social occupation;

(3) The time spent by the Chinese Red Army of Workers and Peasants, War of Resistance against Japanese Aggression and the Revolutionary Army during the War of Liberation;

(four) People's Republic of China (PRC)'s working hours in revolutionary base areas, liberated areas and people's organizations after the founding;

(five) working hours in institutions affiliated to revolutionary base areas and liberated areas, and institutions affiliated to China people and state organs;

(6) Working time in revolutionary base areas, enterprises owned by the government in liberated areas, enterprises owned by the whole people, cooperatives and public-private joint ventures.

Four, the staff was transferred to participate in all kinds of cadre schools, training courses, or in the revolutionary base areas of the Anti-Japanese Military and Political University, Northern Shaanxi Public School, China Women's University and other schools to study time, can be calculated as working years.