Personal account pension refers to the combination of units and individuals?

The balance of endowment insurance is not individual plus company. The analysis is as follows:

1, the personal account balance in the pension refers to the part paid by oneself in the endowment insurance, excluding the unit contribution;

2. When calculating retirement wages, only personal account balance is calculated. Units pay into the overall account.

Personal account is used to record the basic old-age insurance premium paid by the insured and the basic old-age insurance premium transferred from the unit payment, as well as the interest of the above two parts. It is the main basis for the insured to receive personal account related treatment when going through retirement procedures, transferring across the overall scope, surrendering before retirement, leaving the country to settle down before retirement or terminating the basic pension relationship after death.

Personal account of employee's basic old-age insurance refers to the unique account marked by ID number set up by social insurance agency for each employee participating in basic old-age insurance, which is used to record the old-age insurance premium paid by individual employees and the basic old-age insurance premium transferred from enterprises, as well as the interest amount of the above two parts. Personal account is the main basis for employees to receive basic pension after they meet the retirement conditions stipulated by the state and go through retirement procedures.

The functions of endowment insurance are as follows:

1 is conducive to ensuring the reproduction of labor. Through the establishment of the old-age insurance system, it is conducive to the normal intergenerational replacement of the labor force, the elderly retire when they are old, and the newly increased labor force is successfully employed, ensuring the rationalization of the employment structure;

2. It is conducive to promoting economic development. The pension insurance system designed by many countries links fairness with efficiency, especially the partial accumulation and complete accumulation pension fund raising model. The amount of pension received by workers after retirement is directly related to their wage income and payment during their on-the-job work, which can undoubtedly stimulate workers to work actively during their on-the-job work and improve efficiency.

To sum up, it is Bian Xiao's relevant answer that the balance of endowment insurance is a combination of individuals and companies. I hope I can help you.

Legal basis:

Article 15 of the Social Insurance Law of People's Republic of China (PRC)

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.

Article 16

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.