Hunan Provincial Pension Insurance Center

Enterprise retirees who feel that the current bank from which they receive their pensions is inconvenient or are not satisfied with its services can change their bank; and the transfer of pension insurance relations within the province can be done instantly. Recently, the Hunan Provincial Social Security Bureau to the province's corporate employees pension insurance participants to make the above commitments. From 2008, the provincial social security bureau began to pilot retirees to choose their own bank to receive the basic pension, followed by Changsha and other cities and states also began to implement. However, there are still some retired persons in remote areas who have to go to designated banks to receive their basic pensions, which is very inconvenient. The provincial social security bureau promised to the society this year that if the retired persons feel inconvenient to the current pension receiving bank or are not satisfied with its service, they can change the bank. In order to solve the difficult problem of pension qualification authentication, Hunan Province last year pioneered the authentication of pension qualification through facial recognition. In the future, retired people can go to the Internet places with conditions for remote video authentication. The province's corporate pension insurance agencies provide remote video certification services free of charge. In order to facilitate the convenient and quick transfer of enterprise workers' pension insurance relations, the provincial social security bureau promises: for the transfer of pension insurance relations within the province, it can be done instantly; for the transfer of cross-provincial pension insurance relations, the transferring party receives a letter of acceptance from the transferring place of the other province, the transferring party receives a letter of acceptance from the fund from the date of the arrival of the account, and the transferring party is finished within 10 working days. In addition, individual businessmen or flexibly employed people can entrust banks and sign an agreement to pay corporate pension insurance premiums on behalf of the bank. Knowledge Extension - Understanding Pension Insurance Pension insurance is an important part of the social security system and is one of the most important of the five major types of social insurance. The so-called old-age insurance (or old-age insurance system) is a social insurance system established by the state and society in accordance with certain laws and regulations to solve the basic livelihood of the workers after they reach the working age limit stipulated by the state for the termination of their labor obligations, or withdraw from the workplace due to loss of labor capacity in old age. The basic pension insurance, also known as the national basic pension insurance, is a pension insurance system mandated by the State's unified policy to protect the basic living needs of the majority of retired persons. In China, before the 1990s, enterprise workers practiced a single pension insurance system, and in 1991, the State Council's Decision on the Reform of the Pension Insurance System for Enterprise Workers explicitly stated that "with the development of the economy, a system combining basic pension insurance with supplemental pension insurance for enterprises and personal savings pension insurance for employees will be gradually established". Since then, China has gradually established a multi-level pension insurance system. In this multi-level pension insurance system, the basic pension insurance can be called the first level and also the highest level. Hu Xiaoyi, Vice Minister of Human Resources and Social Security, said at the National Social Security Work Conference held on February 27, 2013, that the number of urban and rural residents participating in pension insurance has now reached 484 million. The basic pension insurance system combining social coordination of pension insurance and individual accounts is a new type of basic pension insurance system pioneered by China in the world. This system adopts the traditional mode of raising basic pension insurance costs in the mobilization of the basic pension insurance fund, i.e., the State, the unit and the individual*** share the burden; the basic pension insurance fund carries out social mutual aid; and a structured approach is adopted in the calculation of the basic pension, emphasizing the incentive factor of the individual account pension and the difference in labour contribution. Therefore, the system not only absorbed the advantages of the traditional pension insurance system, but also draws on the strengths of the individual account model; not only reflects the traditional sense of social insurance of social mutual aid, risk dispersion, strong security features, but also emphasizes the employee's sense of self-protection and incentives. This concept mainly contains the following three meanings: 1, old-age insurance is within the legal scope of the elderly completely or basically out of the social labor life before the role of the automatic. The term "complete" here is characterized by the separation of the worker from the means of production; the term "basic" refers to the fact that participation in productive activities is no longer a major part of social life. It should be emphasized that the legal age limit (which varies from country to country) is the practical measure. 2. The purpose of old-age insurance is to protect the basic needs of the elderly and to provide them with a stable and reliable source of livelihood. 3. Pension insurance is to use social insurance as a means to achieve the purpose of protection. Pension insurance is a kind of social security system more commonly practiced in countries all over the world. The basic old-age insurance system combining social coordination and individual accounts is a new type of basic old-age insurance system pioneered by China in the world. This system adopts the traditional mode of raising basic pension insurance costs in the mobilization of basic pension insurance funds, that is, by the State, the unit and the individual **** the same burden; the basic pension insurance fund to implement the social mutual aid; in the basic pension calculation and issuance of structural calculation and issuance methods, emphasizing the incentive factor of the individual account pension and the difference in labor contribution. Therefore, the system not only absorbed the advantages of the traditional pension insurance system, but also draws on the strengths of the individual account model; not only reflects the traditional sense of social insurance of social mutual aid, risk dispersion, strong security features, but also emphasizes the employee's sense of self-protection and incentives. This concept mainly contains the following three meanings: 1, old-age insurance is within the legal scope of the elderly completely or basically out of the social labor life before the automatic occurrence of the role. The term "complete" is characterized by the separation of workers from the means of production; the term "basic" refers to the fact that participation in productive activities is no longer a major part of social life. It should be emphasized that the legal age limit (which varies from country to country) is the practical standard of measurement.2 The purpose of old-age insurance is to protect the basic needs of the elderly and to provide them with a stable and reliable source of livelihood.3 Old-age insurance is to use social insurance as a means of achieving the purpose of protection. Pension insurance is a social security system more commonly practiced in countries around the world.