What does the accumulated amount of social security account mean?

The accumulated amount of social security account refers to the accumulated amount of money stored in personal accounts under the social insurance system. This amount is calculated according to the social insurance premiums paid by individuals and relevant regulations. In the social insurance system of some countries or regions, individual social security contributions are usually divided into two parts, one is the basic old-age insurance premium, and the other is the personal account old-age insurance premium. Personal account endowment insurance premium will be deposited in personal account, forming personal account accumulation. The accumulated amount of individual account is usually calculated according to the individual's payment amount, payment period and investment income of funds in the account. With the continuous payment by individuals, the accumulated amount of personal accounts will gradually increase. When an individual reaches retirement age or meets other retirement conditions, he can determine the level of pension benefits according to the accumulated amount in his personal account.