endowment insurance belongs to the management of human resources and social security departments.

I. Basic concepts and characteristics of old-age insurance

Old-age insurance is a social insurance system, which aims to provide basic living security for workers after retirement. By paying endowment insurance fees, workers can accumulate certain endowment insurance rights and enjoy corresponding pension benefits. Endowment insurance is compulsory, fair and sustainable, and it is an important part of social security system.

II. Responsibilities of Human Resources and Social Security Department

The human resources and social security department is the government agency responsible for managing and supervising the social insurance system. In the aspect of endowment insurance, its main responsibilities include formulating relevant policies, supervising payment and pension payment, and managing endowment insurance funds. At the same time, the human resources and social security departments are also responsible for safeguarding the rights and interests of workers and ensuring the fairness and sustainability of the old-age insurance system.

iii. management and operation of endowment insurance

the management and operation of endowment insurance involves many links. First of all, workers and employers need to pay endowment insurance fees in accordance with the prescribed proportion. Secondly, the human resources and social security departments will supervise and inspect the payment to ensure the timeliness and accuracy of payment. At the same time, the management and operation of the endowment insurance fund is also an important link, and it is necessary to ensure the safety and appreciation of the fund. Finally, after the workers retire, the human resources and social security departments will issue pensions in accordance with the prescribed procedures and standards to ensure the basic livelihood of the workers.

IV. Importance of endowment insurance

Endowment insurance is of great significance to workers and society. For workers, endowment insurance is one of the main sources of income after retirement, which can guarantee their basic living needs. For the society, endowment insurance helps to alleviate the social pressure brought by aging and promote social harmony and stability.

To sum up:

Endowment insurance belongs to the management of human resources and social security departments, which are responsible for formulating relevant policies, supervising payment and pension payment, and managing endowment insurance funds. Workers and employers need to pay endowment insurance fees in accordance with the prescribed proportion in order to enjoy the corresponding pension benefits. The management and operation of endowment insurance involves many links, and it is necessary to ensure the timeliness and accuracy of payment, the safety and appreciation of funds and the timely payment of pensions. Endowment insurance is of great significance to workers and society, and it is an important part of social security system.

Legal basis:

Article 7 of the Social Insurance Law of the People's Republic of China

stipulates:

The administrative department of social insurance in the State Council is responsible for the management of social insurance throughout the country, and other relevant departments in the State Council are responsible for relevant social insurance work within their respective functions and duties. The social insurance administrative department of the local people's government at or above the county level shall be responsible for the social insurance management in its own administrative area, and other relevant departments of the local people's government at or above the county level shall be responsible for the relevant social insurance work within their respective functions and duties.

Article 8 of the Social Insurance Law of the People's Republic of China

stipulates:

Social insurance agencies provide social insurance services and are responsible for social insurance registration, personal rights and interests recording, social insurance benefits payment, etc.