What is a pension fund?
Pension fund is a fund set up by enterprises to pay the fixed living expenses of retired workers. Such funds are usually members of the social security system. In our current salary system, we can see that part of our salary has entered the pension fund system, which is about 8% for labor and 12% for enterprises. As far as the present situation of China's endowment insurance system is concerned, it is a social system that provides basic living security for workers who are old and weak and lose their ability to work.
Of course, many insurance companies also sell some of their own unique pension fund products, which can supplement our lives and enrich our old age. Therefore, the pension fund has played a policy to protect our lives and prevent us from starving to death when we are old and unemployed. Of course, the retirement payment of pension funds will also increase with the economic growth, so as to ensure that the purchasing power will not decline relative to economic growth in the future.
To sum up, this is the pension fund.