Not entirely/According to the State Council's "Notice on Deepening the Reform of the Pension Insurance System for Enterprise Employees" (Guofa [1995] No. 6), the basic pension insurance personal account established is recorded on a monthly basis, and Only employees who have established a personal account can receive it after they reach the national statutory retirement age and go through the retirement procedures. Therefore, the balance of the personal account should accrue interest on a monthly basis just like bank deposits. The basic pension insurance personal account accounting interest rate is specifically for the purpose of saving money in society. The annual interest rate of the fund is separately specified for the basic pension insurance personal account of the insurance agency. According to the two implementation measures for combining social pooling and personal accounts of basic pension insurance for enterprise employees, the accounting interest rate is determined mainly with reference to the following three aspects:

1. Refer to the average wage growth of local employees in the previous year

Second, it is determined based on the bank’s resident time deposit interest rate;

Three, it is determined based on the actual income from the operation of the pension insurance fund. 2 Interest is calculated on the deposit rate. Of course, "reference" does not mean "according to", that is, the bookkeeping interest rate is mainly based on reference to the bank deposit interest rate for the same period, and some factors that will affect the future level of personal account pensions, such as the level of economic development and wage growth, are appropriately considered. In addition, since the balance of the basic pension insurance fund purchases treasury bonds, the accounting interest rate can be given a "preferential interest rate", which is determined based on the treasury bond interest rate.

3 The "Decision on Establishing a Unified Basic Pension Insurance System for Enterprise Employees" promulgated by the State Council in 1997 (Guofa [1997] No. 26) clarified that the amount of personal account savings shall be determined by reference to the bank's corresponding period each year. Interest is calculated on the deposit rate. Of course, "reference" does not mean "according to", that is, the bookkeeping interest rate is mainly based on reference to the bank deposit interest rate for the same period, and some factors that will affect the future level of personal account pensions, such as the level of economic development and wage growth, are appropriately considered. In addition, since the balance of the basic pension insurance fund purchases treasury bonds, the accounting interest rate can be given a "preferential interest rate", which is determined based on the treasury bond interest rate.