Insurance Blog

       Employee personal savings of old-age insurance is a multi-level old-age insurance system in China is an integral part of the voluntary participation by employees, voluntary agencies should choose a supplement form of insurance. By social insurance institutions administered by the staff and workers of old-age insurance, personal savings, from the social insurance authorities to develop specific measures, the wages of individual workers according to their income, according to the provisions of personal savings to pay pension premiums, credited to the local social insurance institutions in the banks to open personal account of pension insurance, and shall not be less than or higher than the same period in urban and rural residents in interest-bearing savings deposit interest rate in order to promote and encourage individual workers to participate in savings of pension insurance, the interest income credited to individual accounts, principal and interest go together all individual workers. Approved to meet the statutory retirement age of workers after retirement, my personal account will be savings of a lump-sum pension payments paid to me or sub-sub-. Trans-regional mobility of workers, personal savings accounts of old-age insurance payments should be transferred. Workers not yet reached the retirement age for death, the savings credited to individual accounts of pension insurance by its nominee or legal heirs of succession. The implementation of staff personal savings of old-age insurance is intended to expand the sources of financing old-age insurance, multi-channel to raise old-age insurance funds, to reduce the burden on the state and enterprises; help to eliminate the formation of long-term insurance costs entirely by the state to "down" concept, enhance workers to self-protection awareness and participation in social insurance initiative; but also can promote the implementation of social insurance work in a wide range of public supervision.

Personal savings of old-age insurance, supplementary pension insurance and enterprise put into practice methods of linking in order to promote and improve the employee's active participation.
 

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