First, the basic endowment insurance fund
The basic endowment insurance fund is formed by the endowment insurance fees paid by enterprises and employees, and is used to pay the basic pension for employees after retirement. The fund is managed by social security institutions to ensure that pensions are paid in full and on time.
Second, personal account pension.
Personal account pension refers to the accumulation of accounts formed by individual contributions when employees pay endowment insurance premiums. When employees retire, they can receive corresponding pensions according to the accumulation of individual accounts. The payment of personal account pension is related to the payment period and payment base of individual employees.
Third, enterprise annuity.
Enterprise annuity is a supplementary old-age insurance system established by enterprises voluntarily for employees, aiming at improving their retirement living standards. The specific implementation plan of enterprise annuity is formulated by the enterprise itself, but it needs to comply with the provisions of relevant national laws and regulations.
To sum up:
The basic endowment insurance for urban workers includes basic endowment insurance fund, personal account pension and enterprise annuity. These systems are isomorphic with the old-age insurance system for urban workers in China, providing basic living security for employees after retirement.
Legal basis:
People's Republic of China (PRC) social insurance law
Article 10 stipulates:
Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.
Article 1 1 stipulates:
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.
Article 12 stipulates:
The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.