The biggest difference between pension and endowment insurance is the different payment methods.

Pension: no payment is required.

Endowment insurance: part of the social security to be paid every month is endowment insurance. Generally, it is withheld and remitted by the insured unit, part of which is handed over to the state and part of which is deposited in personal accounts. The payment standard of social endowment insurance often follows a unified payment standard.

2. Different collection methods

Pension: according to the payment method of pension, it is divided into one-time payment and installment payment. The former refers to the one-time payment of employees after retirement, and enterprises have no obligation to pay after retirement. The latter refers to the payment of employees in installments after retirement until their death, such as monthly or annual payment.

Old-age insurance: it is issued by government departments and institutions in a unified way, and there are unified pension collection rules for every member of society.

Old-age insurance, the full name of social basic old-age insurance, is a social insurance system established by the state and society in accordance with certain laws and regulations to solve the basic life of workers who reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age.

Endowment insurance is an important part of social security system and one of the five most important social insurances. The purpose of endowment insurance is to protect the basic needs of the elderly and provide them with a stable and reliable source of life.

Pension, also known as pension and retirement fee, is the most important social pension insurance treatment. That is to say, according to the relevant national documents, the beneficiary society needs to pay the insurance benefits on a monthly or lump-sum basis in the form of money according to its contribution to society and its eligibility or retirement conditions.

References:

Baidu encyclopedia endowment insurance law