This concept mainly includes the following three meanings: workers expect to realize the endowment insurance for migrant workers.
1. The old-age insurance will take effect automatically only after the elderly within the legal scope have completely or basically withdrawn from social and labor life. The "complete" here is characterized by the separation of workers from the means of production; The so-called "basic" means that participation in production activities has not become the main content of social life. It should be emphasized that the legal age limit (different countries have different standards) is a practical measure. 2. The purpose of endowment insurance is to ensure the basic needs of the elderly and provide them with a stable and reliable source of life. 3. Endowment insurance is based on social insurance to achieve the purpose of protection. Old-age insurance is a social security system widely implemented in all countries of the world.
Generally speaking, endowment insurance mainly has the following characteristics: 1, mandatory. Through legislation, the state forces employers and individual workers to participate in old-age insurance according to law, fulfill their rights and obligations entrusted by law, and pay old-age insurance premiums. When workers reach the legal retirement age, they can go to the social insurance department to receive the basic pension, enjoy the basic old-age insurance benefits, and guarantee the basic life after retirement. 2. Help each other. The source of endowment insurance expenses is generally shared by the state, enterprises, units and individuals, so as to realize social co-ordination and mutual assistance of endowment insurance expenses at a higher level and in a larger scope. 3. Universality. Everyone has old age, which is a necessary stage in life. The problem of providing for the aged is not only a social problem, but also a global problem, which is related to the economic and civilized development of a country or society and needs our sufficient attention. Because the old-age insurance is implemented in a wide range, the insured enjoys treatment for a long time and the cost is huge, therefore, the government must set up special institutions to unify legislation, formulate rules, manage and implement in the whole society.
How do employers and individuals participate in endowment insurance?
According to the Provisional Regulations on the Collection and Payment of Social Insurance Premium [1], the employing unit shall, within 30 days from the date of establishment, apply to the local social insurance agency for social insurance registration with business license or registration certificate and other relevant documents. Social insurance agencies will issue social insurance registration certificates after examination. Where the social insurance registration items of the employing unit are changed or the employing unit is terminated according to law, it shall go through the formalities of changing or canceling the social insurance registration at the social insurance agency within 30 days from the date of change or termination. The employer must declare the amount of social insurance premiums payable to the social insurance agency on a monthly basis, and pay the social insurance premiums within the prescribed time limit after being audited by the social insurance agency. The social insurance premiums that individual employees should pay shall be withheld and remitted from their wages by their units. Social insurance agencies shall establish and record personal accounts according to regulations.
ingredient
The endowment insurance in China consists of three parts. China is a developing country with underdeveloped economy. In order to make the old-age insurance not only play the role of ensuring life and stabilizing society, but also adapt to the needs of different economic conditions, which is conducive to the improvement of labor productivity. Therefore, the endowment insurance in China consists of three parts (or three levels).
Basic endowment insurance
The basic old-age insurance is a compulsory social insurance system established and implemented according to the unified national laws and policies. Enterprises and employees shall pay endowment insurance premiums according to law. After employees reach the retirement age stipulated by the state or quit their jobs for other reasons and go through retirement procedures, social insurance agencies will pay basic old-age insurance (also known as "pension") to retired employees. National symposium of directors of endowment insurance and social insurance
Basic pension consists of basic pension and personal account pension. At present, according to the general thinking of the country on the basic old-age insurance system, the target replacement rate of the basic old-age insurance in the future is determined to be 58.5%. The main purpose of basic pension is to ensure the basic life of retirees in their later years.
Supplementary endowment insurance for enterprises
Supplementary endowment insurance for enterprises refers to an auxiliary endowment insurance established by enterprises according to their own economic strength and under the implementation policies and conditions stipulated by the state. It is located at the second level of the multi-level endowment insurance system, which is jointly implemented by the national macro guidance and internal decision-making of enterprises. There are differences and connections between enterprise supplementary endowment insurance and basic endowment insurance. The difference is mainly reflected in the different levels and functions of the two kinds of endowment insurance, and its connection is mainly reflected in the fact that the policies and levels of the two kinds of endowment insurance are interrelated and inseparable. Enterprise supplementary endowment insurance is managed by the labor and social security department, and the unit that implements supplementary endowment insurance should choose the agency recognized by the labor and social security administrative department. There are three ways to raise funds for enterprise supplementary endowment insurance: pay-as-you-go system, partial accumulation system and complete accumulation system. The enterprise supplementary endowment insurance premium can be fully borne by the enterprise or jointly borne by both the enterprise and the employee, and the payment ratio is determined by the agreement between the employer and the employee. Generally, there is a board of directors composed of employers and employees in the enterprise, which is responsible for the supplementary endowment insurance of the enterprise.
Personal savings endowment insurance
Personal savings endowment insurance for employees is an integral part of China's multi-level endowment insurance system, and it is a supplementary insurance form for employees to participate voluntarily and choose their own agencies. Personal savings endowment insurance for employees handled by social insurance institutions shall be formulated separately by the competent department of social insurance. Individual workers pay personal savings endowment insurance premiums according to their salary income, deposit them in the personal accounts of endowment insurance opened by local social insurance institutions in relevant banks, and bear interest at a rate not lower than or higher than that of urban and rural residents' savings deposits in the same period, so as to encourage individual workers to participate in savings endowment insurance. The interest earned is included in the personal account, and the principal and interest are owned by the individual employees. Workers who reach the statutory retirement age and are approved to retire will pay the savings endowment insurance in one lump sum or in installments with their personal accounts. When employees move across regions, the savings endowment insurance in personal accounts should be transferred accordingly. If an employee dies before reaching retirement age, the savings endowment insurance fund credited to his personal account shall be inherited by his designee or legal heir.
Payment amount
Calculation method of endowment insurance payment amount
The basic old-age insurance premium is shared by enterprises and individual employees: enterprises pay 20% of the total average monthly salary of their employees in the previous year, and individual employees pay 8% of their average monthly salary income in the previous year; Urban individual industrial and commercial households, flexible employees and laid-off workers from state-owned enterprises who participate in the basic old-age insurance in their personal capacity shall pay the basic old-age insurance premium at the rate of 19% based on the average social wage in the province where they are located last year. For example, in April of 20 10, the average social wage in Shaanxi Province in 2009 was 30,293 yuan, so the payment amount in 20 10 = 30,293 *19% = 5,755.67 yuan. Sichuan rural endowment insurance
The proportion of basic old-age insurance contributions can be divided into enterprises and individual employees: (1) All enterprises pay 20% of the total wages of employees, and employees pay 8% of the individual contribution base. (2) Individual workers, including individual industrial and commercial households and freelancers, shall pay 19%, all of which shall be borne by themselves.
Determination of payment base of endowment insurance
If the wages paid by employees are higher than 300% of the province's average social wage in the previous year, 300% of the average social wage in the previous year is the base of payment; If the wages paid by employees are lower than 60% of the province's average social wage last year, 60% of the province's average social wage last year will be the base of payment.
Commercial endowment insurance
annuity insurance
To understand commercial endowment insurance, this is a word that can never be skipped. At present, the vast majority of commercial pension products in the insurance market are annuity insurance with limited payment, that is, the insured begins to receive pension when he pays the insurance premium on schedule to a certain number of years. If the annuity recipient dies before the age of collection, the insurance company will either refund the premium paid or the higher cash value, or pay the insurance premium according to the specified amount. Both annuity insurance and survival insurance are based on the premise that the insured survives during the insurance period. Annuity insurance is a variant of survival insurance, but there are still some differences between them. The former is paid by the insurance company in accordance with the agreed period and method when the insured survives during the insurance period, while the latter is paid by the insurance company in one lump sum when the insured survives until the insurance period expires.
Collection method
Endowment insurance | Commercial endowment insurance usually has three ways: fixed term, fixed amount or one-off. Wholesale payment is a way to withdraw all pensions at an agreed time. The quota collection method is the same as the social security pension, that is, the quota is determined in the unit time until the full insurance benefits are received. Social security pension is based on months, and commercial pension insurance is based on years. For example, China Ping An Life Insurance Company of China Insurance Company's Evergreen Lifelong Endowment Insurance is paid annually. Timing, of course, is to agree on a collection time and determine the amount according to the total amount of endowment insurance. For example, if it is determined that 15 receives a pension, then the insurance company will determine the specific amount that can be received each year according to the total pension. Some pension annuity insurance contracts have agreed time, some can freely choose the way to receive them, or they can be changed halfway.
Collection time
The legal retirement age in China is 55 for women and 60 for men, and social security pensions are collected according to these two age groups. In contrast, the collection time of commercial endowment insurance is much more flexible, providing a variety of choices of collection time, which can be changed before the collection begins. The starting time of annuity collection is usually concentrated in the four age groups of the insured, namely, 50 years old, 55 years old, 60 years old and 65 years old, and some are earlier or later.
Insurance period
The so-called insurance period is simply the time span from the entry into force to the termination of the insurance contract. In the case of the insured's normal life, the insurance period will be directly related to the length of pension collection. At present, there are many fixed-term and life-long pension insurance products.
Guaranteed collection
Pension is a kind of insurance whose payment condition is the survival of the insured. In order to avoid the loss of old-age pension due to the short life of the insured, many old-age insurance promises a guaranteed payment period of 10 or 20 years. That is to say, if the insured fails to receive the guarantee period 10 or 20 years, the beneficiary can continue to receive the balance within the guarantee period. These are still far from enough for how to choose old-age products. Measuring the choice of commercial endowment insurance is not simply comparing one or several factors, such as commercial endowment insurance products. We can't simply say that it is better to guarantee 20 years than 10 years, and it will be more cost-effective than term life insurance. Its rate of return is not only influenced by the rate and the amount received, but also influenced by the company's capital utilization level and social investment. It really takes some thought to choose.
system of selection
How to choose old-age insurance and plan our old-age insurance scheme must follow the following principles:
The insurance premium should be reasonable
The premium should be reasonable (no burden), and the annual premium should be controlled at 15~20% of the annual income (salary, bonus, interest or investment income, etc.). ).
The insured amount should be enough.
Life insurance is about five times the annual income, and accident insurance is about five times the annual income. Usually, people aged 30-55 need enough security most, so that when they lose their ability to work, their families can still guarantee their original living standard in the next five years.
The guarantee should be comprehensive.
Insurance must be comprehensive, including life insurance, accident insurance, medical insurance and major illness insurance, so as to truly have no worries.
Endowment insurance benefits
1。 Payment period: If the insured meets one of the following conditions, he can apply for a monthly basic pension: (1)1after July 19981,he will join the basic old-age insurance, reach the retirement age stipulated by the state, and the accumulated payment period (including deemed payment period, the same below) will reach 15 years; (2) Having participated in the basic old-age insurance before June 30, 1998, reached the retirement age stipulated by the state before June 30, 20 13, and the accumulated payment period reached 10 years; (3) Participate in the basic old-age insurance before June 30th, 20198, reach the retirement age stipulated by the state after July 30th, 20 13, and the accumulated payment period reaches15; (4)/kloc-0 did not participate in the basic old-age insurance before June 30, 1998, but went through the supplementary procedures after July 1,1July 1998, reaching the retirement age stipulated by the state, and the accumulated payment period reached 15. 2。 Monthly payment: a. Basic pension = (the average monthly salary of employees in the province in the previous year ×a+ my average monthly payment salary) ÷2× payment period (including deemed payment period) × 1%. B. Personal account pension = the amount of personal account storage ÷ the number of months of personal account pension. C. The sum of the above two items A+B is the monthly amount. 3。 The basic pension is adjusted in July every year according to the unified plan announced by the whole province.
Application conditions
Workers must meet three conditions to receive the basic pension on a monthly basis: first, they have reached the statutory retirement age and have gone through retirement procedures; Second, the unit and individual participated in the endowment insurance according to law and fulfilled the obligation to pay the endowment insurance; 3. The individual payment shall be at least 15 years (the payment period during the transition period includes the deemed payment period). At present, the legal retirement age of enterprise employees in China is: male employees are 60 years old; Female employees engaged in management and scientific research are 55 years old; Female workers engaged in production and auxiliary work are over 50 years old, and female freelancers and individual industrial and commercial households are over 55 years old.
Supplementary endowment insurance for enterprises
Supplementary endowment insurance for enterprises refers to an auxiliary endowment insurance established by enterprises according to their own economic strength and under the implementation policies and conditions stipulated by the state. It is located at the second level of the multi-level endowment insurance system, which is jointly implemented by the national macro guidance and internal decision-making of enterprises. There are differences and connections between enterprise supplementary endowment insurance and basic endowment insurance. Enterprise supplementary endowment insurance is managed by the labor and social security department, and the unit that implements supplementary endowment insurance should choose the agency recognized by the labor and social security administrative department. There are three ways to raise funds for enterprise supplementary endowment insurance: pay-as-you-go system, partial accumulation system and complete accumulation system. The enterprise supplementary endowment insurance premium can be fully borne by the enterprise or jointly borne by both the enterprise and the employee, and the payment ratio is determined by the agreement between the employer and the employee.
New interim measures
New Interim Measures for Old-age Insurance Ministry of Human Resources and Social Security promulgated the Interim Measures for the Transfer and Continuation of the Basic Old-age Insurance for Employees of Urban Enterprises, which came into effect on 10/0+1day. The "Interim Measures" clarified that the unit payment shall be transferred according to the payment base 12%, and the transfer formalities shall be completed within 45 working days. At the same time, the insured is not allowed to surrender. In this "Interim Measures", there are two points that are most concerned by the public: one is the transfer base of unit payment, and the other is that surrender is not allowed in the future. As for the previous topic, Ministry of Human Resources and Social Security has explained that "determining the appropriate transfer amount of unit contribution funds is to balance the capital relationship between the transfer-out place and the transfer-in place, and will not adversely affect the approval of the basic pension level for employees who participate in active employment". There is no direct relationship between the basic pension level of insured employees and the amount of funds transferred by the unit payment department across regions, and the transfer of social security across regions will not harm the interests of insured individuals.