# 1.1. Shares

Users are awarded with Pension Shares upon the deposit of CDP. These shares are mere numbers that the program remembers. They cannot be transferred nor traded to other accounts. Users get 1 share for each CDP deposited and burnt, and an additional 0.3 shares are divided between the [referral](/whitepaper/1.-concept/1.6.-referrals.md) and [auction](/whitepaper/1.-concept/1.4.-auction.md) programs. An [inflation](/whitepaper/1.-concept/1.3.-inflation-and-deflation.md) of 4.32% per annum is claimable by shareholders. Rewards from inflation are accumulated over time and can be withdrawn or compounded whenever users desire to. If users haven’t interacted with the system for over 1111 days, their shares can be destroyed by anyone.

<figure><img src="/files/JJFln4iXeCw6cjQaNa35" alt="" width="375"><figcaption></figcaption></figure>

For each CDP burnt, 0.1 shares are reserved for the referral program. If there is no referrer, the shares are sent to the auction program. The auction program gets 0.2-0.3 shares per burnt CDP, depending on the number of referred deposits.

Rewards and inflation are claimable by users that own Pension shares. There are three ways to get a Pension shares:

1. **Deposit CDP**
   * Upon deposit, CDP coins are burnt and converted to pension shares. The number of shares a user gets equals the amount of CDP deposited.
2. **Buy shares from the daily auction**
   * Users can participate in the [daily auction](/whitepaper/1.-concept/1.4.-auction.md) to have a chance on getting shares for cheaper. The currency of payment is PulseChain’s native coin, PLS.
3. **Refer users who deposit CDP**
   * [Referrers](/whitepaper/1.-concept/1.6.-referrals.md) get shares on a 1:10 ratio (10%) of deposited CDP by their referees. For example: the referrer receives 1.432 shares for 14.32 CDP burnt by their referee.


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