The basic old-age insurance is a social security system enforced by national legislation. Its purpose is to ensure that workers get material help from the state and society after retirement and to ensure their basic needs. It is a compulsory, public welfare and non-profit social insurance.

Social security is the abbreviation of social pooling insurance, which includes endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. The difference between social security and endowment insurance is that endowment insurance is one of social security.

Social overall planning is to plan the collection, management and use of endowment insurance funds in a unified way within a certain scope. Each overall planning area is responsible for the balance of the endowment insurance fund in this area, and the balance is mainly dominated and used by this overall planning area. The gap generally needs to be filled by the government at the same level and the finance at the same level.

Generally speaking, the old-age insurance means that an individual can get a pension after 15 years' payment, and the employee's old-age insurance paid by the company can get it after formal retirement, while the national old-age insurance bought by the individual can't get it until he is 6 years old.

social insurance is compulsory by the state, and all units and individuals must participate.

article 72 of the labor law "social insurance funds shall determine the sources of funds according to the types of insurance, and gradually implement social pooling. Employers and workers must participate in social insurance and pay social insurance premiums according to law. " It is illegal for employers not to pay social insurance for workers according to state regulations, and its direct consequence is to infringe upon the legitimate rights and interests of workers.

Differences:

First, the basic attributes are different:

The former is administrative compulsory social security and belongs to social welfare nature; The latter is the business activity of financial enterprises, and the insurance is for the purpose of making profits by voluntary insurance institutions, and it is an equivalent exchange relationship with the insured;

Second, the object and function are different:

The former is aimed at social workers and their families, who get basic living security when they are born, old, sick, disabled, injured and unemployed; The latter takes anyone's life, body and property as the object, and distinguishes different accidents that may occur in different stages of life, different parts of the body and property, in order to obtain certain economic compensation when the incident occurs;

Third, the reciprocal relationship between rights and obligations is different:

The former insurance benefits mainly come from the accumulation of labor results when workers are working, and the workers have made contributions to the society, paid a small amount of social insurance benefits, and obtained the right to enjoy social insurance benefits, thus establishing the relationship between rights and obligations; The latter's insurance premium comes from personal income (including property income), and the amount received depends on the amount insured, and the rights and obligations are equal in monetary relationship;

Fourth, the category of legislation is different:

The former belongs to the category of social legislation; The latter belongs to the category of economic legislation; Fifth, the management system is different. The former belongs to the administrative leadership system; The latter belongs to the financial system.

Further reading: How to buy insurance, which is better, and teach you how to avoid these "pits" of insurance.