What does it mean to put it into a social security personal account?

Transferring social security to personal account refers to transferring part of the funds paid by individuals and units in social insurance payment to the insured's personal account for personal future social security benefits payment.

First, the establishment of personal accounts and sources of funds

In the social insurance system, individual account is a fund account specially set up for the insured. Its main sources of funds include two parts: one is the social insurance premium paid by the insured in accordance with the prescribed payment ratio; Second, according to relevant policies and regulations, part of the expenses paid by the employer will also be included in the personal account. These funds are mainly used for the payment of social security benefits such as pension and medical care for future insured persons.

Second, the role and significance of personal accounts

The establishment of personal accounts is of great significance to the insured. First of all, personal account funds are the embodiment of the insured's personal rights and interests, belong to the insured, and can be extracted and used under certain conditions. Secondly, the accumulation of personal account funds helps to enhance the social security benefits of the insured, especially in the aspect of old-age security. The amount of personal account funds directly affects the pension benefits of the insured after retirement. In addition, personal accounts also have certain investment appreciation functions. Through reasonable investment and operation, the preservation and appreciation of funds can be realized, and the social security level of the insured can be further improved.

Three. Management and supervision of personal accounts

In order to ensure the safe and effective use of personal account funds, relevant departments will strictly manage and supervise personal accounts. This includes formulating and implementing relevant policies and regulations to regulate the payment, transfer and withdrawal of personal accounts; Establish and improve the personal account information management system to ensure the accuracy, completeness and timely update of account information; Strengthen the supervision and audit of personal account funds to prevent funds from being misappropriated or abused; At the same time, the personal account funds will be invested and operated regularly to realize the preservation and appreciation of funds.

To sum up:

Transferring social security to personal account refers to transferring part of the funds paid by individuals and units in social insurance payment to the insured's personal account for personal future social security benefits payment. The establishment and management of personal accounts is of great significance to protect the rights and interests of insured persons and improve the level of social security. Relevant departments will strengthen the management and supervision of personal accounts to ensure the safe and effective use of funds.

Legal basis:

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

Article 12 stipulates:

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

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

Article 16 stipulates:

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age. If an individual who participates in the basic old-age insurance dies due to illness or non-work, his survivors can receive funeral grants and pensions; Persons who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance. The required funds are paid from the basic old-age insurance fund.