Can the balance in the individual account of an insured employee be inherited in its entirety by law after his death?

Pension insurance individual accounts can be inherited.

According to Article 14 of the Social Insurance Law, "If an individual dies, the balance of the individual account can be inherited." Individual account has the nature of mandatory savings, shall belong to the individual, the inheritance amount according to the provisions of the lump sum payment to the beneficiaries or legal heirs designated by the deceased person during his life. Article 6, paragraph 2, of the Implementing Certain Provisions stipulates, "Upon the death of an individual who has participated in the basic pension insurance for employees, the balance in his or her individual account may be inherited in its entirety in accordance with the law." With regard to the amount of inheritance of the individual account, the Social Insurance Law is significantly different from the previous provisions. The previous regulation was that only the individual contribution portion could be inherited. However, after the implementation of the Social Insurance Law, the personal contribution portion and the original enterprise transfer portion, i.e. the entire balance, of the individual account can be inherited according to law. Specifically:

(1) When an employee dies while in service, the amount of inheritance shall be the principal and interest of the individual contribution portion of the individual account's total savings at the time of his death.

(2) In the event of the death of a retired employee, the amount of inheritance shall be calculated according to the following formula:

Inheritance = balance of the individual account at the time of death of the retired employee x the ratio of the principal and interest of the individual contribution portion of the individual account to the total storage amount of the individual account at the time of retirement.

The inheritance amount is paid in a lump sum to the beneficiary or legal heir designated by the deceased during his/her lifetime. The remaining part of the individual account shall be merged into the Social Coordination Fund. After the personal account has been disposed of, it shall be closed by stopping the payment of contributions or the payment record.

Pension insurance inheritance of death before retirement is handled in accordance with the following process:

(I) Application

The last 1 contributing unit of the deceased person goes to his/her social security office with the following materials to complete the formalities:

1. original and copy of the death certificate;

2. employee's pension insurance handbook;

3. the heir's ID card Original and photocopy;

4. Certificate of the relationship between the deceased and the heir issued by the village committee;

5. Two copies of Certificate of Eligibility for Inheritance of Funeral Expenses, Lump-sum Relief Expenses and Amount in Individual Account;

6. Letter of attorney from the heir entrusting the contributing entity to carry out the formalities.

(2) Checking and Receiving

Social insurance agencies to check the above materials, in line with the provisions of the inheritance procedures, and issue the "Basic Pension Insurance Individual Account Survivor Succession Approval Form".

After confirming the relevant information, the contributing unit will bring the form to the social insurance agency for review and issue a Financial Receipt to the financial department of the social insurance agency for collection.

For those who joined the unit after the pension insurance, by the staff and the unit **** with the payment, for the death of such people, although the pension insurance can continue, but it must be noted that the inheritance can only be the part of the individual to pay for, for the unit belongs to the social co-ordination of the funds paid for the unit can not be inherited as a legacy.

I hope the above content can help you, if you have other questions please consult a professional lawyer.

Legal basis: "Chinese People's *** and State Social Insurance Law"

Article 14 of the individual account shall not be withdrawn in advance, the interest rate shall not be lower than the interest rate of the bank time deposits, exempted from interest tax. If an individual dies, the balance of the individual account can be inherited.