the endowment insurance paid by the company cannot be refunded, and the endowment insurance premium already paid will be credited to the basic endowment 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. Legal basis

Social Insurance Law of the People's Republic of China

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Article 14 stipulates that individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted.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.