What does the balance of the special pension account in social security mean?

The balance of pension account refers to the part and interest paid by individuals in pension insurance.

When employees reach retirement age and enjoy treatment conditions, they are paid monthly, which is a part of old-age insurance. Part of the old-age insurance premiums paid by units and individuals enter the overall planning, and part of them are included in personal accounts. Among them, individuals pay part of their wages or 8% of the average social wage, and the total wages of the paying units vary from 20% to 30% of the average social wage. According to different local policies, the three points are about 3% of personal salary, and * * * is 1 1%, which is included in personal account. In some places, the proportion of personal accounts is 8%, all of which are paid by individuals. Endowment insurance is a social insurance system established by the state in accordance with relevant laws and regulations to ensure that workers reach the working age limit stipulated by the state, terminate their labor obligations or retire from their jobs because of old age. The purpose is to ensure the basic needs of the elderly through social insurance and provide them with a stable and reliable source of life.

Social security collection process is generally as follows:

1, apply for a social security card: the social security card holder needs to apply for a social security card at the local social security bureau first, and at the same time need to bind a bank account or a prepaid card;

2. Pay social insurance premiums: Social insurance premiums are generally paid by the unit, and there are also cases where individuals need to pay themselves. After payment, the social security bureau will record the individual's social security payment;

3. Medical treatment: If you need medical treatment, you can go to a designated medical institution and issue an invoice for medical expenses;

4. Reimbursement: Social security card holders can check the medical insurance reimbursement information at the local social security bureau or online social security inquiry platform, and after confirming the reimbursement amount, they will submit the invoice and reimbursement application materials to the local social security bureau for reimbursement;

5. Receiving social security funds: After the reimbursement is approved, the Social Security Bureau will transfer the reimbursement amount to the personal bank account or prepaid card, and the individual can receive it through the social security card.

To sum up, the social security policies in different regions are different, and the specific payment period needs to be determined according to the local social security policies. In addition, when handling social security related procedures, you should consult the relevant regulations of local social security agencies and pay them in time according to regulations to ensure your social security rights and interests.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 15

The basic pension consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.