1. The basic pension system provides the basic conditions for establishing a market economy.

2, to ensure that workers have a sense of security, exempt from their worries, can stimulate the enthusiasm of workers and promote the improvement of labor productivity.

3. Endowment insurance has the function of adjusting income distribution and stabilizing society. Laborers have the obligation to engage in labor. After a long career, they have the right to enjoy old-age insurance after retirement.