Legal analysis: Mr. Gong of Nanchang, aged 40. He and his wife are the main sources of income for this family. The family's monthly income is about 5000 yuan. Husband and wife, old and young, not only need to raise two children, but also need to take care of four old people every day. In addition, they are also troubled by car loans and mortgages. Mr. and Mrs. Gong are under great economic pressure and mental torture every day. There are still more than 20 years before Mr. Gong retires. Considering the problem of providing for the aged faced by the couple in a few years, Mr. Gong felt that his burden was heavy. After discussing with his wife, Mr. Gong decided to buy a family pension insurance to provide a safe and reliable guarantee for his future pension.

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 premiums payable during the payment period shall be borne by the government. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.