Legal analysis: 1, basic old-age insurance. Enterprises and employees * * * pay endowment insurance premiums according to law. After employees reach the retirement age stipulated by the state or quit their jobs for other reasons and go through retirement procedures, social insurance agencies pay basic old-age insurance (also known as "pension") to retired employees. 2. Additional endowment insurance for enterprises. Enterprises provide supplementary old-age insurance beyond the provisions of the state according to their own capabilities. 3. Commercial endowment insurance that employees voluntarily choose to handle. As a form of individual supplementary insurance.

Legal basis: People's Republic of China (PRC) Social Insurance Law.

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of 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. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.

Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premium should be paid by the government during the payment period. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.