Can the principal of the basic pension account be withdrawn?

According to the Social Insurance Law of People's Republic of China (PRC):

Article 14 Individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted.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

Seventeenth individuals who participate in the basic old-age insurance die of illness or non-work-related, their survivors can receive funeral grants and pensions; Persons who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance. The required funds are paid from the basic old-age insurance fund.

Article 18 The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.

Social endowment insurance is a kind of social insurance system established by our government according to certain laws and regulations to solve the problem that workers reach the working age limit stipulated by the state to terminate their labor obligations or quit their jobs because of old age. Endowment insurance is an important part of social security system and one of the five most important social insurances.

According to the decision-making arrangements of the CPC Central Committee and the State Council, from June 5438+ 10, 2022, the national pension insurance will be co-ordinated.

The "Twelfth Five-Year Plan" period is a crucial period for China to comprehensively deepen reform and opening up, accelerate the transformation of economic development mode and build a well-off society in an all-round way, and it is also a crucial period for the insurance industry to realize structural adjustment.

The Outline of the Twelfth Five-Year Plan for the Development of Insurance Industry in China proposes to vigorously expand enterprise annuity business, support qualified enterprises to establish commercial endowment insurance plans, improve the level of employee security, explore individual endowment insurance business, and broaden the service fields of commercial endowment insurance.

The old-age security system in China has three levels: social basic old-age insurance, enterprise supplementary old-age insurance and personal savings old-age insurance. The coverage of government-led social security is constantly expanding, and the social endowment insurance for urban residents in China has basically achieved full coverage. But because the principle of social security is "low level and wide coverage",

At present, there are still some big problems in the old-age insurance system. The huge demand in the pension insurance market is untenable only by social security. The replacement rate of old-age insurance has been declining year by year since the end of last century, and now it is less than 47%. It is urgent for commercial insurance to participate in social security. Through the combination mechanism of commercial insurance and social security, the social security pressure of the elderly will be diverted and a multi-level old-age security system of the whole society will be established.

Old-age insurance will take effect automatically after the elderly within the legal scope "completely" or "basically" withdraw from social labor life. The so-called "complete" is characterized by the separation of workers from the means of production; The so-called "basic" means that participation in production activities has not become the main content of social life. The legal age limit is a practical measure.