1. Tax preference: the insured can enjoy certain tax preference when participating in the personal pension, and the insured can deduct it before tax according to the annual limit of12,000 yuan, thus reducing the personal income tax to be paid, and the interest income of personal pension premium and investment and wealth management income can also be exempted from tax. Only after the individual begins to receive the pension will it be deducted according to 3%.

2. earmarking: the insured person opens an individual pension account, and the individual can deposit the funds into it. Usually, it can only be withdrawn when you retire, which ensures that the funds are earmarked and has the function of compulsory savings.

3. Enjoy the compound interest of long-term investment: the funds in the personal pension account can be used for investment and wealth management, to maintain and increase the value of assets, and to invest in Public Offering of Fund, pension insurance, bank wealth management and other products.

4. Convenient personal operation: The personal pension account adopts the personal account system, and individuals can use the funds in the personal pension fund account to independently select and purchase financial products that meet the requirements, such as bank wealth management, savings deposits, commercial pension insurance, fund public offering, etc. And buying one or buying a few is done by individuals in this account, without running multiple financial institutions.

5. It is conducive to overall planning and promotes the healthy and long-term development of a multi-level and multi-pillar endowment insurance system.

The process of opening a pension account is as follows:

1. Choose an account bank: you can choose your usual bank and go to the bank counter to inquire about the relevant procedures and specific requirements for opening an individual pension account;

2. Prepare relevant documents: according to the requirements of the bank, prepare valid personal identification documents (such as ID cards and passports). ) and other related materials;

3. Fill in the application form: The bank teller will provide an application form for opening a personal pension account, and fill in complete, accurate and clear personal information, such as name, ID number and contact information.

4. Pay down payment: when opening an account, you need to pay down payment as the first pension of the account, and the payment amount varies according to different banks and regions;

5. Complete account opening: After the bank has passed the examination, the individual pension account can be opened successfully.

To sum up, the completion of pension account opening has many benefits for the account holder, so you can prepare relevant information in time and open an account according to the process.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 11

The basic old-age insurance combines social pooling with individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.