Of the pension insurance premiums paid by units and individuals, part goes into the pool and part goes into individual accounts.

The contributions charged to the personal account, as well as the interest rate generated based on the personal account accounting interest rate published by the state, are all charged to the personal account, which is called the balance of the pension insurance personal account.

At the time of retirement, the personal account balance divided by 120 months, or divided by the average remaining months of life, is the monthly pension personal account portion.

Together with the co-ordination part, adjustment funds, etc., it constitutes the entire pension.

Legal basis: Article 11 of the "Social Insurance Law of the People's Republic of China" Basic pension insurance implements a combination of social pooling and personal accounts.

The basic pension insurance fund is composed of employer and individual contributions as well as government subsidies.

Article 12 of the "Social Insurance Law of the People's Republic of China" The employer shall pay basic pension insurance premiums in accordance with the proportion of the total wages of its employees stipulated by the state, and record them into the basic pension insurance overall fund.

Employees should pay basic pension insurance premiums in accordance with the proportion of their wages stipulated by the state and record them into their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in basic pension insurance in the employer, and other flexible employment personnel who participate in basic pension insurance shall pay basic pension insurance premiums in accordance with national regulations and record them separately in the basic pension insurance pooling fund

and personal accounts.

Article 13 of the "Social Insurance Law of the People's Republic of China" Before employees of state-owned enterprises and public institutions participate in basic pension insurance, the basic pension insurance premiums that should be paid during the deemed payment period shall be borne by the government.

When there is insufficient payment from the basic pension insurance fund, the government will provide subsidies.

Article 14 of the "Social Insurance Law of the People's Republic of China": Personal accounts are not allowed to be withdrawn in advance, the accounting interest rate shall not be lower than the bank time deposit interest rate, and interest tax is exempted.

If an individual dies, the balance of his or her personal account can be inherited.

Article 15 of the "Social Insurance Law of the People's Republic of China" Basic pensions consist of pooled pensions and personal account pensions.

The basic pension is determined based on the individual’s cumulative contribution years, contribution salary, average salary of local employees, personal account amount, average life expectancy of the urban population and other factors.

Warm reminder: The above answers are only based on the current information and my understanding of the law. Please refer to it with caution!

If you still have questions about this issue, it is recommended that you sort out the relevant information and communicate with professionals in detail.