You are 5 years old and don't have any old-age insurance. I suggest you pay the urban old-age insurance directly, which will be more cost-effective.

endowment insurance.

Social security includes: medical insurance, endowment insurance, unemployment insurance, maternity insurance and industrial injury insurance.

Today, let's talk about one of the types of insurance that we can directly enjoy in the future: endowment insurance.

The meaning of endowment insurance

1 Endowment insurance is an important part of social security system and one of the most important five types of social insurance.

2 Pension, also known as pension and retirement fee, is the most important social pension insurance treatment. That is to say, the relevant documents of the state stipulate that after the workers are old or lose their ability to work, according to their contributions to the society and their qualifications for enjoying old-age insurance or retirement conditions, the insurance benefits paid monthly or in a lump sum in "monetary form" are the needs of benefiting the society and are mainly used to protect the basic living needs of employees after retirement.

3 Old-age insurance is a system that provides basic living security. The basic old-age insurance combines social pooling with individual accounts.

4 It is in line with the statutory retirement age of the country, and the male is 6 years old, the female is 5 years old, and the female in the institution is 55 years old. The pension insurance has been paid for at least 15 years, and you can receive a pension when you retire later.

what's the difference between urban workers' pension, government institutions' pension and urban and rural residents' pension?

1 employees in ordinary enterprises: ordinary individuals pay 8% of their wages, while enterprises pay 14%-2% for their employees.

2 urban and rural residents pay by themselves: only pay the 8% part, and pay less and get less.

3 enterprises and institutions: the pension system was once dual-track, that is, enterprises and institutions could receive pension after retirement without paying pension insurance. The amount of pension received depends on the position and professional title, and the difference between first-grade professional titles may be more than 1, yuan.

Now, although China's pensions are merged, there is still a big gap between the pensions of employees in state-owned enterprises and ordinary enterprises. There is also a big difference

1. The payment base is different: before the social security reform this year, many enterprises mostly paid endowment insurance for their employees according to the minimum wage, and the level of endowment insurance you paid directly determined your pension level. The payment base of enterprise employees determines the red part, which affects the amount of pension you receive.

2 enterprises and institutions will buy annuities for their employees, which most ordinary enterprises and individuals do not have.

payment base

1 The proportion of basic old-age insurance premiums paid by enterprises shall generally not exceed 2% of the total wages of enterprises, and the specific proportion shall be determined by provinces, autonomous regions and municipalities directly under the Central Government. A few provinces, autonomous regions and municipalities directly under the Central Government should report to the Ministry of Labor and Social Security and the Ministry of Finance for approval if it is really necessary to exceed 2% of the total wages of enterprises because of the large number of retirees and the heavy burden of old-age insurance.

2 The proportion of individuals paying the basic old-age insurance premium should gradually reach 8% of their paid wages. Individual industrial and commercial households, freelancers pay all by themselves, and the proportion of payment is generally 18%. The base of payment can be selected between 6% and 3% of the average salary of local employees.

3 the approved payment base is based on the average social wage of employees in the region in the previous year.

main categories

1. Personal old-age insurance:

a. Personal insurance with urban and rural residents as the insurance object. All urban and rural residents over the age of 16 who are in good health and can work or work normally can apply for insurance with insurance companies as insured.

b, the insurance period of individual endowment insurance includes the insurance premium payment period and the pension amount withdrawal period. The insurance premium payment period begins when the insured goes through the insurance formalities and pays the first premium, and ends when the agreed payment period expires; The pension is received from the month following the expiration of the payment period agreed by the insured to the termination of the insurer's insurance liability.

C. The insurance contract of individual pension insurance bears the following insurance responsibilities to the insured: the insured can get a fixed annuity for 1 years during the pension period. If the insured dies during the fixed annuity period, the beneficiary (or his legal successor if no beneficiary is specified) can continue to receive it for 1 years, and the insurance liability party will be terminated; If the insured is still alive after receiving the fixed annuity for 1 years, he can continue to receive the pension until his death, and the insurance liability will be terminated; If the insured dies within the insurance premium payment period, he can receive the death surrender money according to the regulations, and the insurance liability is terminated.

2 social endowment insurance:

a, the social endowment insurance system is a social security system that the state sets an age limit according to people's physique and labor resources. When workers reach this age limit, they lose their ability to work as old people, relieve their labor obligations, and the state and society provide material help to ensure their basic life in their later years.

b, social endowment insurance is a kind of social insurance system that is widely implemented, and generally has the following characteristics: it is enforced by national legislation, and all enterprises, units and individuals must participate in

c, the symposium of the National Endowment Insurance and Social Insurance Bureau is added, and those who meet the pension conditions can receive pensions from the social insurance department; Because of its sociality, great influence, many people enjoying it for a long time and huge expenses, it is necessary to set up special institutions to implement unified planning and management of modernization, specialization and socialization.

3 Basic old-age insurance

Basic old-age insurance is a social insurance system established and implemented by the state according to the provisions of laws and regulations. Under this system, employers and workers must pay old-age insurance premiums according to law. After workers reach the retirement age stipulated by the state or quit their jobs for other reasons, social insurance agencies will pay them pensions and other benefits according to law, thus ensuring their basic livelihood. Basic old-age insurance, unemployment insurance, basic medical insurance, industrial injury insurance, maternity insurance, etc. * * * together constitute a modern social insurance system, and it is one of the most important types of insurance in the social insurance system.

social co-ordination

1 Social insurance agencies set up individual accounts for basic old-age insurance for employees according to the amount of 11% of their wages, and all individual contributions are credited to individual accounts, and the rest are included in enterprise contributions. With the increase of the proportion of individual contributions, the proportion of enterprises is gradually reduced to 3%.

2 the amount of personal account is calculated with reference to the bank deposit rate for the same period every year. Personal account storage is only used for employee pension, and may not be withdrawn in advance. When employees are transferred, all personal accounts will be transferred with them.

3 if an employee or retiree dies, the individual contributions in the individual account can be inherited. Enterprise contributions are included in the social pooling fund except for the individual account.

Pension benefits

1 Employees who have joined the work after implementing the old-age insurance system of "combining social pooling with individual accounts" and whose individual contribution period has accumulated for over 15 years will be paid a basic pension on a monthly basis after retirement.

2 Basic pension consists of basic pension and individual account pension. When retiring, the monthly standard of basic pension is 2% of the average monthly salary of employees in provinces, autonomous regions, municipalities directly under the central government or cities in the previous year, and the monthly standard of personal account pension is my personal account storage divided by 12.

3 individuals who have paid less than 15 years in total will not enjoy basic pension benefits after retirement, and the amount stored in their personal accounts will be paid to them in one lump sum.

4 Those who have retired before the implementation of the old-age insurance system of "combining social pooling with individual accounts" will still be given pensions according to the original provisions of the state, and the pension adjustment measures will be implemented at the same time.

5 For those who worked before the implementation of the old-age insurance system of "social pooling combined with individual accounts" and retired after the implementation, the transitional pension will be determined on the basis of the basic pension and individual account pension according to the principles of balanced connection between the old and new methods and basic balance of treatment level.