Is the personal pension account a social security account? The detailed explanation is as follows

China's pension system is constantly improving. With the introduction of individual pension system, China's pension system has established three pillars. The first pillar is basic old-age insurance, the second pillar is enterprise annuity and occupational annuity, and the third pillar refers to individual pension system. So does the personal pension account refer to the social security account? Let's get to know each other.

Is the personal pension account a social security account?

Personal pension accounts are not social security accounts, and there are still some differences between personal pension accounts and social security accounts. Personal pension account is an account in which users participate in the establishment of personal pension system. It is mainly used to register and manage personal identity information, which is associated with the basic old-age insurance and records the payment, investment, deduction and payment of personal income tax of personal pension. Social security account is an account established after we participate in social insurance, which records the participation information of the insured's pension insurance, medical insurance, maternity insurance, unemployment insurance and work-related injury insurance. In addition, the reimbursement and collection of social security benefits are also carried out through social security accounts.

Of course, from the nature, the individual pension account is also a social security account. Personal pension account and social security account also have some similarities, which are all opened through the national social insurance public service platform, the national human resources and social security government service platform, electronic social security card, handheld 12333App and other channels.

It should be emphasized that only by participating in the personal pension system do you need to open a personal pension account. If you only participate in social security, you don't need to open a personal pension account.