How to check the balance of Guangfa Bank China Social Insurance Card

Online inquiry:

You can inquire by logging into the website of the Human Resources and Social Security Bureau of your own city.

Two, telephone inquiries:

City Pension Insurance Center unified query phone 12333 (plus their own city telephone area code), while you can consult the pension insurance processing, pension replacement (replacement), pension transfer and other issues of the query.

Third, counter consultation:

You can also go directly to the Pension Insurance Office of the Municipal Department of Labor and Social Security to make inquiries at home by holding your ID card or social security card number.

At present, China's urban workers' pensions are based on a system combining social coordination and individual accounts, with individuals and enterprises paying 8% and 20% of the employee's total wages for the previous year, respectively. Theoretically, the premiums credited to the individual account fund are the 8% paid by the individual, and the 20% paid by the enterprise is all allocated to the coordinated fund.

Extended information

Dai Xianglong, chairman of the National Council for Social Security Funds, said China's urban workers currently pay 8 percent of their salaries into pensions and set up individual accumulation accounts, while employers pay 20 percent of their salaries into pensions and the government establishes a basic pension co-ordination account. But the social co-ordinated account has not been able to cover its expenses, taking up funds from individual accounts and creating a gap between pension income and expenditure.

While the two pensions' revenues are now greater than their expenditures, the situation is not in line with the direction of China's reform to establish a combination of social coordination and individual accumulation of pensions.

CCTV.com - CASS: China's pension personal account gap as high as 1.7 trillion