What are the implications of opening a personal social security pension account?

A. What is the impact of personal pension account opening?

Personal pension account opening does not have much impact, mainly depends on the participant's voluntary, and there is no mandatory payment. Therefore, when a participant opens a personal pension account, not save money is also possible.

And, opening an account is not troublesome. According to the design of the system, the personal pension is a personal account system, and participants need to open two accounts to participate in the personal pension: one is to establish a personal pension account in the information platform for information records, inquiries and services, etc.; the other is to open or designate a personal pension fund account at the bank for contributions, purchase of products, and collection of earnings.

Individual pension accounts are safer because they are locked in until retirement, and the account funds are operated in a closed manner, with nothing going in or out during the contribution phase. The maximum annual contribution to the personal pension is 12,000 yuan, and participants are not allowed to contribute more than this maximum contribution each year.

In addition, the funds in the personal pension account can be used to purchase financial products such as bank wealth management, savings deposits, commercial pension insurance and public funds in accordance with the regulations. Investment is definitely risky, choose independently and take the corresponding risk.

It is worth noting that commercial banks are exempt from annual fees, account management fees, SMS fees, and transfer fees for personal pension fund accounts.