What is the balance of the pension account?

The balance of the special pension account is the endowment insurance premium paid by the units and individuals, part of which is included in the overall planning and part of which is included in the personal account. The payment included in the personal account and the interest generated by the bookkeeping interest rate of the personal account announced by the state are included in the personal account, which is called the personal account balance of endowment insurance. When retiring, the personal account balance divided by 120 months, or divided by the average remaining months, is the personal account part of the monthly pension. Together with the overall planning part, adjustment fund, etc. It constitutes all the pensions.

The balance of pension account refers to the pension insurance premium paid by individuals and the interest generated by individual pension accounts. The balance of pension account refers to the part and interest paid by individuals in pension insurance. The endowment insurance for urban employees is jointly paid by the unit and individual employees, with the unit contribution ratio of 16% and the individual contribution ratio of 8%. Among them, part of the premiums paid by the unit all enter the pension insurance pooling account, which is used to pay the basic pension and transitional pension for urban workers and retirees.

However, 8% of the individual contributions go into the individual pension insurance account, and the funds that enter the individual pension insurance account will also generate interest. The balance of the individual pension insurance account consists of two parts: individual contributions and account interest, which are used to pay the individual pension benefits of retirees. Personal account pension = personal pension insurance account balance at retirement.

Individual pension insurance accounts shall not be withdrawn in advance, and the interest rate of account balance shall not be lower than the interest rate of bank time deposits. However, if the insured person goes abroad to settle down or dies unexpectedly, the balance of the individual pension insurance account can be withdrawn.

Because the personal pension insurance account balance is related to the personal pension benefits of retirees, it is necessary for the insured to pay attention to their personal pension insurance account balance. Inquiry method of endowment insurance account balance:

1. Social security department inquiry: Bring my valid ID card and social security card to the local social security service center to inquire about the details of the balance of the endowment insurance account;

2. Customer service hotline inquiry: dial the social security hotline, switch to manual service according to the voice prompt, enter the ID number for personal identification, and then you can inquire the balance of the endowment insurance account;

3. official website social security inquiry: log in to official website, the Human Resources and Social Security Bureau of the insured place, and log in to official website with ID number, mobile phone number and password to inquire about the insured information, social security payment details and the balance information of the endowment insurance account.

legal ground

People's Republic of China (PRC) social insurance law

Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law in case of old age, illness, industrial injury, unemployment and maternity.

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.