What does personal social security account mean?

Personal account is used to record the basic old-age insurance premium paid by the insured and the basic old-age insurance premium transferred from the unit payment, as well as the interest of the above two parts. It is the main basis for the insured to receive personal account related treatment when going through retirement procedures, transferring across the overall scope, surrendering before retirement, leaving the country to settle down before retirement or terminating the basic pension relationship after death.

Personal account of employee's basic old-age insurance refers to the unique account marked by ID number set up by social insurance agency for each employee participating in basic old-age insurance, which is used to record the old-age insurance premium paid by individual employees and the basic old-age insurance premium transferred from enterprises, as well as the interest amount of the above two parts. Personal account is the main basis for employees to receive basic pension after they meet the retirement conditions stipulated by the state and go through retirement procedures.

1, account funds

The funds credited to the personal account include three parts:

(1) the payment principal of the current year, including all individual contributions and the employer's contributions transferred to the personal account (June 65438+1 October 20061,the size of the personal account was adjusted from 165438+ 0% of my salary to 8%, all of which were formed by individual contributions.

(2) Interest generated by the principal of the current year;

(3) Interest generated by accumulated storage over the years.

When an employee retires, the calculation method of the employee's personal account pension in the month of retirement is: the total amount of personal account storage divided by the number of months (195 for 50 years old, 170 for 55 years old, 139 for 60 years old, and so on. ). In the reform mode of combining social pooling with personal account, personal account pension is an important part of basic pension. Personal account pension, basic pension and transitional pension together constitute the basic pension for retirees.