Transferring place is processing your pension fund transfer

The fact that your pension fund transfer is being processed at the place of transfer means that your pension fund is being transferred from your original place of enrollment to the new place of enrollment.

Basic process of pension fund transfer

When you move from one city or region to another, you need to go through the procedure of transferring social security relations, including the transfer of pension funds. The basic process is as follows:

1. Apply for the transfer procedures at the social security organization of the original place of participation and submit relevant supporting documents, such as ID cards and social security cards.

2. The social security organization in the original place of participation will transfer your personal account funds to the account designated by the social security organization in the new place of participation after approval.

3. Upon receipt of the transferred funds, the social security institution in the new place of participation will handle the transfer procedures for you and incorporate your pension fund into the local social security system.

The significance of pension fund transfer

Pension fund transfer is an important measure to protect the rights and interests of the insured. Through the transfer, your pension fund can follow the mobility of your insured relationship to ensure that you can enjoy your due pension benefits everywhere. At the same time, it helps promote labor mobility and balanced regional development.

Third, precautions

When transferring your pension fund, you need to pay attention to the following matters:

1. Make sure that the social security policies of your original place of enrollment and the new place of enrollment are in line with each other, so as to avoid a poor transfer or damage to your benefits.

2. Keep abreast of the progress of the transfer to ensure the safe and accurate transfer of personal account funds to the new place of participation.

3. Provide complete personal information and supporting documents to facilitate smooth transfer procedures at the new place of insurance.

In summary:

The fact that the transferring place is handling the transfer of your pension fund means that your pension fund is being transferred from the original place of participation to the new place of participation in a safe and orderly manner. During the process, you need to understand the basic procedures, the significance of the transfer and the precautions to be taken to ensure that your pension rights are protected.

Legal basis:

The Social Insurance Law of the People's Republic of China

Article 19 stipulates:

If an individual is employed in a different region, his/her basic pension insurance relationship will be transferred with him/her, and his/her years of contributions will be accumulated. When an individual reaches the legal retirement age, the basic pension is calculated in segments and paid uniformly. The specific methods are stipulated by the State Council.