The difference between pension account and social security account

The difference between pension account and social security account is as follows:

1. Different functions: the pension account is an individual pension savings account and an important part of the pension insurance system. It is used to store the old-age insurance premiums paid by individuals and the subsidies given by the government for future use when receiving pensions. Social security account is an account of comprehensive social insurance system, which is used to store social insurance premiums paid by individuals and employers, including endowment insurance, medical insurance, work injury insurance, unemployment insurance, maternity insurance, etc., so that individuals can enjoy corresponding social insurance benefits when related risks occur;

2. The payment subjects are different: the pension account is paid by individuals, mainly by deducting personal pension insurance premiums from wages, while the social security account is paid by individuals and employers, both of which need to pay social insurance premiums according to regulations;

3. Different policy adjustments: the policy adjustment of pension account is mainly aimed at the adjustment of pension system, such as pension collection standard and payment period, while the policy adjustment of social security account is aimed at the adjustment of social insurance system, such as social security rate and social security reimbursement ratio.

Pension payment standard:

1. Old-age insurance for urban employees: The pension payment standard of old-age insurance for urban employees is determined on the basis of payment period, payment base and accumulated storage amount in individual accounts. The specific calculation methods and standards will vary from region to region. Generally speaking, the pension payment standard is related to individual payment years, payment base and accumulated reserves of individual accounts. The longer the payment period, the higher the payment base, the more accumulated reserves in personal accounts and the higher the pension payment standard.

2. Rural residents' old-age insurance: The payment standard of rural residents' old-age insurance pension is determined by the local government according to local economic and social development level, farmers' affordability and other factors. Generally speaking, the pension payment standard of rural residents' pension insurance is lower than that of urban employees' pension insurance, but it will also be different due to regional and individual contributions;

3. Pension for enterprise retirees: The payment standard for enterprise retirees is determined by the enterprise according to local policies and the actual situation of the enterprise. Generally speaking, the pension payment standard of enterprise retirees is related to the individual's length of service, position, salary level and other factors, and the pension payment standard of enterprise retirees will also be different due to the economic situation of enterprises.

To sum up, there are differences in pension payment standards in different regions and under different circumstances, and the specific standards and calculation methods should be determined according to local policies and regulations.

Legal basis:

Article 16 of People's Republic of China (PRC) Social Insurance Law

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. According to this regulation, it doesn't matter whether migrant workers have paid enough 15 insurance premium when they reach retirement age. They can choose to pay enough 15 insurance premium, or they can choose to switch to residents' pension insurance with lower treatment.