It is mainly used to record the basic old-age insurance premium paid by the insured and the basic old-age insurance premium paid by the unit, as well as the interest of the above two parts. It is the main basis for the insured to accept the relevant treatment of personal account when handling retirement procedures, cross-planning transfer, surrender before retirement, move out before retirement and terminate the basic old-age insurance relationship after death. China's personal pension policy planning has three pillars. The first pillar is the endowment insurance currently handled by social security institutions, the second pillar is the annuity, and the third pillar is the personal pension.

Personal pension means that an individual opens a personal pension account in a bank and deposits funds into the account on a regular basis (personal income tax can be reduced and exempted, with a fixed number of years of 6,543,800 yuan+0.2 million yuan). The funds in the account can be used for saving, purchasing wealth management products, insurance and Public Offering of Fund. However, if the account is closed, it cannot be withdrawn in advance without special circumstances, and it can be withdrawn for personal pension when retiring. In essence, through personal efforts, another fund is prepared on the basis of providing for the aged to improve the quality of life of the elderly.

What is the impact of pension interruption?

1. Less payment period: If pension is interrupted, the payment period will be less, and the pension will naturally be less.

2. Decline of personal average index: If the pension is interrupted, the personal average index will drop and the pension level will also drop.

3. Personal account amount: If the pension payment is interrupted, the personal account amount will be less than that without interruption, and the pension amount will also be reduced.