The first of the three pillars of old-age care is basic old-age insurance, including basic old-age insurance for urban workers and basic old-age insurance for urban and rural residents. The basic old-age insurance is the main component of the multi-level old-age insurance system, which is based on the basic security and mainly reflects the social and economic situation. At present, China's basic old-age insurance has covered more than 654.38+0.3 billion people, and the accumulated fund balance has exceeded 6 trillion yuan. The second pillar is enterprise annuity and occupational annuity, which are jointly established by employers and their employees, mainly playing a supplementary role and having a good development foundation. By the end of 20021,there were more than 70 million employees in enterprise (occupational) annuities, accumulating 4.5 trillion yuan. The third pillar is personal pension, which is the institutional arrangement of the state for the third pillar.

? Personal pension system belongs to the supplementary pension insurance system supported by government policies, voluntary participation of individuals and market-oriented operation. Employees who participate in the basic old-age insurance for urban workers or the basic old-age insurance for urban and rural residents in China can participate in the individual old-age insurance system.

? According to Article 10 of People's Republic of China (PRC) Social Insurance Law, employees should participate in the basic old-age insurance, and both employers and employees should pay the basic old-age insurance premium. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.