Legal analysis: my country’s pension insurance consists of three parts (or levels). The first part is basic pension insurance, the second part is enterprise supplementary pension insurance, and the third part is personal savings pension insurance.

Basic pension consists of basic pension and personal account pension

Basic pension and basic pension insurance are mandated by the state through legislation to ensure that workers lose their ability to work in old age. At this time, it is applicable to all types of enterprises to provide workers with a basic living security system. The standards are basically unified. The expenses of the state, enterprises and individuals are jointly borne by the society and combined with personal accounts. Each employee has a lifelong The pension insurance account remains unchanged, and the portion paid by the individual and the portion of the retirement co-ordination fee paid by the employer are both included in the personal account. No matter where the employee works, as long as the individual and the employer pay the premium, it will be included in the personal account until retirement. At that time, the pension will be paid based on the accumulated savings in the personal account.

Pension insurance is an important part of the social security system and one of the most important of the five major types of social insurance. The so-called pension insurance (or pension insurance system) is a basic insurance policy provided by the state and society in accordance with certain laws and regulations to solve the basic problems for workers after they reach the working age limit stipulated by the state to be relieved of their labor obligations, or after they have lost their ability to work due to old age. A social insurance system established for life.

Legal basis: "Social Insurance Law of the People's Republic of China"

Article 10 Employees shall participate in basic pension insurance, and the employer and employee *** shall jointly pay the basic pension insurance. Individual industrial and commercial households without employees, part-time employees who have not participated in basic pension insurance in the employer, and other flexible employment personnel can participate in basic pension insurance, and the basic pension insurance premiums are paid by individuals. The measures for pension insurance for civil servants and staff managed with reference to the Civil Servant Law shall be prescribed by the State Council.

Article 11 Basic pension insurance shall be combined with social pooling and personal accounts. The basic pension insurance fund is composed of employer and individual contributions and government subsidies.

Article 12 The employer shall pay basic pension insurance premiums in proportion to the total wages of its employees stipulated by the state, and record them into the basic pension insurance pooling fund. Employees should pay basic pension insurance premiums in accordance with the proportion of their wages stipulated by the state and record them into their personal accounts. Individual industrial and commercial households without employees, part-time employees who have not participated in basic pension insurance in the employer, and other flexible employment personnel who participate in basic pension insurance shall pay basic pension insurance premiums in accordance with national regulations and record them separately in the basic pension insurance pooling fund and personal accounts.

Article 13 Before employees of state-owned enterprises and public institutions participate in basic pension insurance, the basic pension insurance premiums that should be paid during the deemed payment period shall be borne by the government.

When there is insufficient payment from the basic pension insurance fund, the government will provide subsidies.

Article 14 Personal accounts are not allowed to be withdrawn in advance, the accounting interest rate shall not be lower than the bank time deposit interest rate, and interest tax is exempted. If an individual dies, the balance of his or her personal account can be inherited.