The pension account of Industrial Bank is mainly used to record the basic old-age insurance premiums paid by the insured and the basic old-age insurance premiums paid by the unit, as well as their interest.

it is the main basis for the insured to obtain personal account-related treatment when going through retirement procedures, transferring across the overall scope, surrendering insurance before retirement, going abroad to settle down before retirement, and terminating the basic pension relationship after death.

what does a pension account mean?

the pension account generally refers to the amount in the individual pension insurance account.

the basic old-age insurance includes pooling accounts and individual accounts. Personal account is the user's own and can be withdrawn and transferred later. The overall account is paid by the unit, together with the corresponding subsidies, which cannot be withdrawn.