In this system, by means of compulsory or voluntary payment, funds are accumulated in the account set up for everyone, and it is clearly recorded that the insured can withdraw only when a specified event occurs. Personal account, also known as personal fund account, is an important content of the unified account combination model implemented by China's basic old-age insurance system. The account is established by social insurance institutions at all levels according to the citizenship number of each employee participating in the basic old-age insurance.
Personal account, also known as personal fund account, is an important part of the unified account combination model implemented in China's basic old-age insurance system.
This account is a lifelong personal account established by social insurance institutions at all levels for each employee who participates in the basic old-age insurance according to the citizenship number.
According to the latest regulations of our country, personal account has the following three meanings:
1, personal account funds are subject to compulsory personal savings payment and accumulation;
2. Personal accounts belong to individuals and do not have the function of social mutual assistance. When employees are on the job, fund management is fully accumulated, and pensions are paid monthly after retirement;
3. The payment of the personal account of the basic pension belongs to the limited payment type, which is closely related to the payment and salary of the employees to the social insurance fund.
Personal accounts are mainly composed of the following two parts:
1, the principal of the year, that is, the endowment insurance premium paid by individuals, the scale of which is equivalent to 8% of the salary paid by me;
2. The principal paid in the current year and the interest generated by accumulated storage over the years.