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Is there a relationship between the number of years of endowment insurance and recruitment and selection?
What is the relationship between the length of service and the payment period of endowment insurance?
Length of service refers to the working years in which employees take wage income as their whole or main means of subsistence. Length of service is one year's work, which is divided into general length of service (intermittent) with accumulated working years and continuous length of service with uninterrupted working years. (Before the implementation of endowment insurance, continuous length of service = deemed payment period)
The relationship between the length of service and the payment period of endowment insurance is that the payment period is not completely equal.
The payment period of old-age insurance refers to the cumulative time for units and employees to pay premiums together. The payment period and continuous length of service are not exactly the same. According to the current policy, the payment period of endowment insurance can be divided into "deemed payment" and "actual payment". Therefore, if calculated according to the "actual payment" period, it will not be completely equivalent.
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