Personal pension account is an important part of China's pension insurance system. According to the relevant regulations, everyone who accepts the payment of old-age insurance should open an individual pension account under the old-age insurance system, and according to certain regulations and standards, a part of his salary income should be deposited into a special pension account for individual retirement. The purpose of establishing individual pension accounts is to encourage individual pension reserves and improve the overall level of social old-age security. The funds in the personal pension account are mainly composed of individual contributions and government subsidies, of which individual contributions account for 8% of the total wages, and the amount of government subsidies varies according to different regions. Pension collection mainly includes basic pension and personal account pension. The basic pension is a pension paid by the state or local government, while the personal account pension is a pension generated by the accumulated funds in the pension account opened by individuals.
How to check the balance of personal pension account? You can log on to the website of the National Social Security Fund through the social security card, or you can check it online. What will happen if you don't open an individual pension account? If you don't open a personal pension account, you won't be able to enjoy the corresponding personal account pension benefits, which will have a negative impact on your life after retirement.
Personal pension account is an important part of China's pension insurance system. While paying the old-age insurance premium, it is suggested to open a personal pension account in time in order to enjoy the corresponding old-age benefits.
Legal basis:
Article 10 of the Social Insurance Law of People's Republic of China (PRC) * * * Employees shall participate in the basic old-age insurance, and both employers and employees shall 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.