How to withdraw personal pension out

The specific process of withdrawing personal pension is as follows:

1. Submission of application: Individuals need to submit an application for pension withdrawal to their units or social security institutions. The application needs to provide personal identification, bank card information, pension insurance certificate and other related materials.

2. Review the application: the unit or social security institutions will review the application materials to verify personal identity and pension insurance contributions.

3. Confirmation of the withdrawal amount: After the audit, the unit or social security agency will calculate the amount of personal pension withdrawal based on the individual's contributions, and confirm with the individual.

4. Procedures: Individuals need to go to the bank for withdrawal procedures, fill out the withdrawal application form and provide relevant materials, such as ID cards, bank cards, etc..

5. Receiving Pension: After the bank's approval, the individual can receive the pension at the designated bank branch.

The conditions for receiving the pension are:

1. Reaching the legal retirement age and having gone through the retirement formalities;

2. The unit and the individual participating in the pension insurance in accordance with the law and fulfilling the obligation of pension insurance contributions;

3. Individuals having paid contributions for at least 15 years (the years of contributions during the transition period including the deemed years of contributions).

In summary, there are certain restrictions and regulations on personal pension withdrawals. For example, the amount withdrawn cannot exceed 50% of the balance of the personal pension account and can be withdrawn at most once a year. In addition, personal pension withdrawals need to comply with relevant laws, regulations and policy provisions. Therefore, before withdrawing your personal pension, it is recommended that you consult with the relevant organizations or professionals to understand the specific rules and procedures for withdrawal.

Legal basis:

Article 38 of the Social Pension Insurance Regulations stipulates that the insured person who is eligible to receive monthly basic pension benefits shall be paid pension benefits from the month following the month in which the benefits are claimed. If an insured person reaches the legal retirement age while serving a prison sentence, the pension insurance benefits shall be suspended and shall be paid in accordance with the regulations after the expiration of the prison sentence. Insured persons (including those who have settled abroad) who receive monthly basic pensions are certified once a year as to their eligibility to receive social insurance benefits. If valid proof of certification is not provided after the deadline, the payment of pension insurance benefits is suspended. If survival is confirmed, retroactive payment is made. Article 39. If an insured person dies while enjoying the monthly basic pension entitlement, the social security agency shall pay him or her a lump-sum funeral subsidy and a pension for his or her dependent immediate family members. The funeral subsidy shall be paid at three times the average monthly wage of employees in the city (district) where the insured person was entitled to pension insurance at the time of death; the pension shall be paid at nine times the average monthly wage of employees in the city (district) where the insured person was entitled to pension insurance at the time of death to the immediate family members supported by the insured person. Funeral subsidies and pensions shall be paid from the pension insurance pool fund. Article 40 basic old-age pensions shall be socialized in full and in monetary terms on a monthly basis. If the pension insurance benefits are in arrears, the interest for the period of arrears shall be paid back together with the principal.