1, different implementers

Endowment insurance is enforced by the government through legislation and managed and operated by relevant government agencies. However, enterprise annuity is jointly established by enterprises and employees, and the government is generally not directly responsible for enterprise annuity. The role of government in enterprise annuity is mainly reflected in legislation, taxation and supervision.

2. The security objectives are different.

The basic old-age insurance is to protect the basic needs of employees after retirement, and the standard and level of protection are relatively low; Enterprise annuity is to improve the living standard of employees after retirement and make up for the shortage of replacement rate of basic old-age insurance.

3. Different payment methods.

The payment method, payment standard and payment level of basic old-age insurance are uniformly stipulated and enforced by the government; The payment method and payment standard of enterprise annuity are determined by enterprises and employees themselves and established voluntarily.

4. Different financing methods.

The basic old-age insurance adopts the way of pay-as-you-go plus partial accumulation, and provides old-age security through intergenerational support; Enterprise annuity adopts the way of complete accumulation of personal accounts and implements personal protection.

5. Different operation modes

The basic old-age insurance is managed and operated by the government social security agency; Enterprise annuities are managed and operated in a market-oriented way, and professional institutions are entrusted to manage and operate.

6. Different payment guarantees

The basic old-age insurance is enforced by the government through legislation, so the finance guarantees the final payment of the basic old-age insurance; Enterprise annuity is established voluntarily by enterprises and employees, and enterprises and employees should bear the risks of enterprise annuity fund operation by themselves.