What does personal social security retirement mean?

Hello, dear, it's my pleasure to serve you. Social security withdrawal refers to the withdrawal of personal social security account, that is, 40% of the paid amount is returned to the parties. 1. Social security accounts can be divided into individual accounts and overall accounts. Personal account balance refers to the accumulated balance of premiums paid by the insured, and the premiums that have not entered the personal account are included in the overall account. 2. Personal social insurance account refers to the establishment of social insurance agencies for each person who participates in social endowment insurance according to the social security number issued by the State Bureau of Technical Supervision, and records the old-age insurance premiums transferred by the unit according to regulations and all the old-age insurance premiums paid by individuals as the basis for calculating and issuing personal account old-age insurance premiums when the people who participate in social endowment insurance retire.