At present, China's personal pension system belongs to the second pillar of the third pillar old-age insurance, which is implemented by national legislation. At the same time, accounts are established for all workers who participate in the basic old-age insurance for urban workers, so that when they reach the statutory retirement age, they can receive pensions and other welfare benefits in accordance with state regulations. Essentially, it is a part of the third pillar pension insurance system and the first pillar of the second pillar. From the international experience, the third pillar of China's urban workers' pension insurance is mainly enterprise annuity, occupational annuity and personal account pension of government agencies and institutions. Enterprise annuities and occupational annuities are mainly enterprise annuities, occupational annuities invested by the government and supplementary pensions.
The understanding of individual pension system needs to be divided into four categories: developed countries, developing countries, emerging markets and developing countries, and we are divided into the first and second pillars. From the specific content, the second pillar mainly refers to the supplementary old-age insurance system established by enterprises and employees in addition to the old-age insurance for urban employees; The third pillar refers to the form in which individuals choose to invest independently and enjoy pension benefits; The fourth pillar is the second pillar in the "three pillars". As the second and third pillar, individuals can choose independently and receive pensions in accordance with state regulations after retirement, mainly including basic endowment insurance for institutions and supplementary endowment insurance for enterprises.