Personal account balance = personal account storage amount, which is the cumulative amount of 8%+ bank interest mentioned by personal payment since you paid the fee.

Personal account is a part of individual contribution and unit contribution.

The longer you pay, the larger the payment base, and the more your personal account balance.

Role of personal account balance:

1. When you reach retirement age, personal account pension = personal account storage amount/calculation months;

2. If the insured person needs to return his personal account because of going abroad to settle down, dying, less than 15 years, etc., it is your refund amount.

extended information

1. Among the endowment insurance premiums paid by units and individuals, part of them will enter the overall planning and part will be included in personal accounts.

the payment included in the personal account and the interest rate generated according to the bookkeeping interest rate of the personal account published by the state are included in the personal account, which is called the personal account balance of endowment insurance. When you retire, the personal account balance divided by 12 months, or divided by the average remaining months, is the personal account part of the monthly pension. Together with the overall planning part, adjustment funds, etc., it constitutes all pensions.

2. Among the endowment insurance premiums paid by units and individuals, part of them will be pooled and part will be included in personal accounts. Among them, three points (about 3% of personal salary) paid by individuals (8% of salary or social average wage) and paid by units (ranging from 2% to 3% of total salary or social average wage, depending on local policies) are included in personal accounts, accounting for 11%. In some places, the bookkeeping scale of personal accounts is 8%, all of which are paid by individuals.

3. The payment included in the personal account and the interest rate generated according to the bookkeeping interest rate of the personal account published by the state are included in the personal account. It is called the personal account balance of endowment insurance.

with the increase of payment period, the balance of personal account keeps increasing. When you retire, the personal account balance divided by 12 months, or divided by the average remaining months, is the personal account part of the monthly pension. Together with the overall planning part, adjustment funds, etc., it constitutes all pensions.

Baidu Encyclopedia: Pension Account Balance