Legal analysis: No, it has nothing to do with the company after retirement. As long as retired workers pay endowment insurance, the insurance company will issue pensions, which is the socialized distribution of pensions.

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

Article 11 The basic old-age insurance shall combine social pooling with individual accounts. The basic old-age insurance fund consists of employer and individual contributions and government subsidies.

article 12 an employer shall pay the basic old-age insurance premium in proportion to the total wages of its employees as stipulated by the state and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium according to the proportion of their wages stipulated by the state and record it in their personal accounts. 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 who have participated in the basic old-age insurance shall pay the basic old-age insurance premium in accordance with state regulations and record it in the basic old-age insurance pooling fund and individual account respectively.

article 13 before employees of state-owned enterprises and institutions participate in the basic old-age insurance, the basic old-age insurance premiums that should be paid during the period of deemed payment shall be borne by the government. When the basic old-age insurance fund is under-paid, the government gives subsidies.