1997 with the formulation of the State Council's decision on establishing a unified old-age insurance system for enterprise employees, a unified basic old-age insurance system for urban enterprise employees has been established nationwide. Part of the basic old-age insurance premium paid by the enterprise is used to establish the overall fund, and part of it is included in the personal account; The basic old-age insurance premiums paid by individuals are included in personal accounts. Therefore, it should be 1997 to establish a personal account for endowment insurance in China.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.