From the time I paid social security in 1995 to now, the balance of my personal pension account is about 100,000, which should be considered a reasonable level compared to most people.

Basically, after retirement, the pension we receive can well meet our basic living expenses.

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

Payments recorded into personal accounts, as well as interest accrued based on the personal account accounting interest rate published by the state, are all recorded into personal accounts and are called pension insurance personal account balances.

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.

As the payment period increases, the balance of the personal account continues to increase.

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.

The funds in the pooled account cannot be withdrawn if the payer dies unexpectedly. So what is the money in the pooled account used for?

In reality, our basic pension when we retire = basic pension + personal account pension = average monthly salary of employees in the city in the previous year of retirement × 20% + sum of personal account principal and interest ÷ 120.

Among them, the basic pension is paid out of the social pooling fund, which is the main part of the pension.

The funds in the pooling account are not allowed to be withdrawn. This is for the sake of "pooling". After all, someone died unexpectedly and the money paid into the pooling account has not been used up. However, there are also people who live a long life and the funds in the pooling account have long been exhausted. As a human being

To ensure that all insured elderly people have pensions, it is necessary to coordinate distribution to ensure the implementation of the pension insurance system.

Pension insurance, the full name of basic social pension insurance, is a basic pension insurance provided by the state and society in accordance with certain laws and regulations to solve the basic problems for workers after they reach the working age limit set by the state for the release of labor obligations, or after they have lost the ability to work due to old age and quit their jobs.

A social insurance system established for life.

Pension insurance is an important part of the social security system and one of the most important of the five major types of social insurance.

The purpose of pension insurance is to protect the basic living needs of the elderly and provide them with a stable and reliable source of living.

Pension insurance automatically comes into effect after the elderly within the legal scope "completely" or "basically" withdraw from social working life.

The so-called completeness is characterized by the separation of workers from the means of production; the so-called basic means that participation in production activities has no longer become the main content of social life.

Among them, the legal age limit is the practical measurement standard.

Legal basis: Article 10 of the "Social Insurance Law of the People's Republic of China" Employees shall participate in basic pension insurance, and the employer and employee *** shall jointly pay the basic pension insurance premiums.

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 can participate in basic pension insurance, and the basic pension insurance premiums are paid by individuals.

The measures for pension insurance for civil servants and staff managed with reference to the Civil Servant Law shall be prescribed by the State Council.

Article 12 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 credit 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.