1. Employee Pension Insurance

According to the relevant provisions of my country’s Social Security Law, enterprises must pay social security to their employees. Social security includes pension insurance. The cost of employee pension insurance is It is borne jointly by the unit and the employees, so the expenses that the employees themselves need to pay are actually relatively small.

2. Flexible employment pension insurance

For people with flexible employment, flexible employment pension insurance is also a good choice because its effectiveness is the same as that of employee pension insurance. Yes, you just need to bear all the costs personally.

3. Pension insurance for urban and rural residents

Pension insurance for urban and rural residents is mainly aimed at farmers without jobs or urban and rural residents. The purchase threshold is very low and the cost is not high, but the money you can receive after retirement is also limited.

1. Social insurance is referred to as social security. According to the provisions of the Social Insurance Law, social insurance includes basic pension insurance, basic medical insurance, work-related injury insurance, unemployment insurance, maternity insurance, etc. The state has established social insurance systems such as basic pension insurance, basic medical insurance, work-related injury insurance, unemployment insurance, and maternity insurance to protect citizens’ rights to obtain material assistance from the state and society in accordance with the law in the event of old age, illness, work-related injury, unemployment, childbirth, etc.

2. Individuals who participate in the basic pension insurance and have made cumulative contributions for fifteen years when they reach the statutory retirement age will receive a basic pension on a monthly basis.

3. If an individual participating in the basic pension insurance dies due to illness or not due to work, his or her surviving family members can receive funeral subsidies and pensions; A disabled person who completely loses the ability to work can receive disability allowance. The required funds are paid from the basic pension insurance fund.

4. Individuals participating in the basic medical insurance for employees who have made cumulative contributions for the number of years specified by the state when they reach the legal retirement age will no longer pay basic medical insurance premiums after retirement and enjoy basic medical insurance benefits in accordance with national regulations.

5. Employees who are injured in accidents or suffer from occupational diseases due to work reasons and are identified as work-related injuries shall enjoy work-related injury insurance benefits; among them, those who have lost the ability to work after being identified as working ability shall enjoy disability benefits. If an employee injured at work meets the conditions for receiving a basic pension, the disability allowance will be suspended and he will enjoy basic pension insurance benefits. If the basic pension insurance benefit is lower than the disability allowance, the difference will be made up from the work-related injury insurance fund.

6. Unemployed persons who meet the following conditions can receive unemployment insurance benefits from the unemployment insurance fund:

(1) The employer and the individual have paid unemployment insurance premiums for one year before becoming unemployed.

(2) Interruption of employment not due to one’s own will;

(3) Already registered as unemployed and required to apply for a job. During the period of receiving unemployment insurance benefits, unemployed persons participate in the basic medical insurance for employees and enjoy basic medical insurance benefits. The basic medical insurance premiums that unemployed persons should pay are paid from the unemployment insurance fund, and individuals do not pay basic medical insurance premiums.

7. If the employer has paid maternity insurance premiums, its employees shall enjoy maternity insurance benefits; the unemployed spouses of employees shall enjoy maternity medical expense benefits in accordance with national regulations. The required funds are paid from the maternity insurance fund.

What conditions must be met to apply for social pension insurance?

l. Those who are over 60 years old on the starting date of insurance payment;

2. Those who are over 45 years old and under 60 years old on the starting date of insurance payment must participate in insurance according to regulations and have sufficient Persons who have paid the corresponding period of pension insurance premiums and are over 60 years old;

3. Those who are under 45 years old on the starting date of insurance payment and participate in insurance according to regulations, and the payment period is more than 15 years, Persons over 60 years old.

To sum up, basic pension insurance includes pension insurance, medical insurance, work-related injury insurance, unemployment insurance, and maternity insurance. The employees' social pension insurance points are collected, the unit's part is paid into the overall account and the individual's part is paid into the pension account. The employee payment amount is equal to the payment base multiplied by 8%, and the enterprise payment amount is equal to the employee payment base multiplied by 16%. Individuals who participate in basic pension insurance and whose cumulative contributions are less than fifteen years when reaching the statutory retirement age can pay for fifteen years and receive basic pension insurance on a monthly basis.

Legal basis:

Article 2 of the "Social Insurance Law of the People's Republic of China" stipulates that the state establishes basic pension insurance, basic medical insurance, work-related injury insurance, unemployment insurance, maternity insurance, etc. The social insurance system guarantees citizens’ rights to obtain material assistance from the state and society in accordance with the law in the event of old age, illness, work-related injury, unemployment, childbirth, etc.