1. Endowment insurance is generally paid by the employer and employees according to their respective proportions, and the part paid by the general company enters the social pooling account; If there is endowment insurance in the social security card, it includes endowment insurance;
2. The part paid by the individual enters the personal account. Only when the parties have paid the old-age insurance for 15 years and reached retirement age can they receive the old-age insurance monthly. If the old-age insurance has not been paid 15 years, the employee can't receive the part paid by the company and directly enter the social pooling account. Social security endowment insurance accounts are divided into individual accounts and overall accounts.
3. Personal pension insurance benefits can be extracted from individual accounts after retirement, and the pension insurance benefits will be paid monthly by the overall account. The social security card includes two accounts, one is a social security account and the other is a bank account.
Legal basis: Article 12 of the Social Insurance Law of People's Republic of China (PRC).
The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.
Employees shall pay the basic old-age insurance premium in accordance with the proportion of 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 employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.
Article 13
Before employees of state-owned enterprises and institutions participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government.
When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.
Article 14
Personal accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.
Article 15
The basic pension consists of overall pension and individual account pension.
The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.