Opening a personal pension account has no effect, mainly because the insured is voluntary and there is no compulsory payment. Therefore, when the insured opens an individual pension account, it is ok not to save money.

Moreover, opening an account is not troublesome. According to the system design, the personal pension is based on the personal account system, and two accounts need to be opened to participate in the personal pension: one is to establish a personal pension account on the information platform for information recording, inquiry and service; The other is a personal pension fund account opened or designated in a bank for payment, product purchase and income collection.

Personal pension account is relatively safe, because it will be locked into retirement, the account funds are closed, and it can only enter and exit at the payment stage. The maximum amount of personal pension paid by the insured person every year is 12000 yuan, and the annual payment of the insured person shall not exceed the maximum amount.

In addition, the funds in the personal pension account can be used to purchase financial products such as bank wealth management, savings deposits, commercial pension insurance, and fund public offering. Investment must be risky, choose independently and bear the corresponding risks.

Can I cancel my personal pension account?

Individual pension fund accounts can be cancelled. If the user confirms that the personal pension fund account is no longer needed, those who meet the requirements can cancel it. Participants are required to bring their valid personal identification documents to the offline counter of the bank. If you need an agent, you need the ID cards of both the agent and the agent and the corresponding agent certificate. But different banks have different regulations. Users are advised to consult bank customer service staff before cancellation. Of course, the funds in the personal pension fund account can be inherited. If the social security card is cancelled due to the unfortunate death of the insured person, going abroad or settling down, the commercial bank may transfer the funds in the individual pension fund account of the insured person to the fund account designated by himself or his successor. Therefore, the personal pension fund account is very safe.

I hope the above content can help you. Please consult a professional lawyer if you have any other questions.

Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC). Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.