Social security personal account interest

The social security personal account is all the social security expenses paid by itself plus the resulting interest. This is the total amount of your personal account.

According to the social insurance policy promulgated by the state, the part paid by the unit enters the social pooling, and the part paid by the individual enters the personal account. The so-called social co-ordination means that you enter the social security management agency to co-ordinate the use. In other words, only after you have paid 15 years can you be eligible to participate in the right to use the social pooling part. If you don't pay 15 years, you won't have the right to use the social pooling part. In the final analysis, it is confiscation.

If you have paid 15 years, then the state is obliged to pay the basic pension for you. As long as you live, even if you give money, the country will give you money. This is called overall consideration. Of course, some people may have left this world before enjoying the part paid by the original unit. After the balance here is confiscated, it will be used to pay those who live long. If it is insufficient, it will be subsidized by the state. This is the advantage of participating in social insurance.

Personal accounts are partly owned by individuals and can only be inherited.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.