Personal pension is a supplementary pension insurance system supported by government policies, voluntarily participated by individuals, and operated in a market-oriented manner.

Generally speaking, users deposit part of their salary into a personal pension account. This account can invest in some pension financial products based on its own risk and return characteristics.

In the selection of investment products, savings deposits, bank financial management, commercial pension insurance, public funds, etc. that comply with the statutory regulations are all used as personal pension products.

Participants who have reached the age of receiving basic pensions, completely lost their ability to work, have settled abroad, or have other circumstances that comply with relevant laws and regulations, can receive personal pensions on a monthly, installment or one-time basis after the information platform verifies the conditions for receiving them.

Once confirmed it cannot be changed.

When receiving it, the personal pension should be transferred from the personal pension fund account to the personal social security card bank account.

After the death of a participant, the assets in his personal pension fund account can be inherited.

Pension insurance is a type of social insurance, and pension is also a pension. It is a kind of pension insurance benefit and the most important pension insurance benefit in society.

Legal basis: Article 12 of the "Social Insurance Law of the People's Republic of China (2018 Amendment)" Employers shall pay basic pension insurance premiums in accordance with the proportion of the total wages of their employees stipulated by the state, and record them into the basic pension insurance pooling 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 61: Social insurance premium collection agencies shall collect social insurance premiums in full and on time in accordance with the law, and regularly inform employers and individuals of the payment status.

Article 62 If the employer fails to declare the amount of social insurance premiums that should be paid in accordance with regulations, the amount that should be paid shall be determined based on 110% of the unit's payment amount last month; after the paying unit completes the declaration procedures, the social insurance premiums shall be paid by the employer.

The fee collection agency shall make settlements in accordance with regulations.

Article 64 Social insurance funds include basic pension insurance funds, basic medical insurance funds, work-related injury insurance funds, unemployment insurance funds and maternity insurance funds.

Except for the basic medical insurance fund and the maternity insurance fund, which are jointly established and accounted for, other social insurance funds are accounted for and accounted for separately according to the types of social insurance insurance.

Social insurance funds implement the unified national accounting system.