When receiving it, it is calculated on the basis of the average social wage of the last year on the retirement ground. For example, when receiving it in 20 19, it will be paid in 20 18, and when receiving it in 2020, it will be paid in 20 19. The year here is not necessarily a natural year, but a social security year, such as 20/kloc-0.

Extended reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.