What type of endowment insurance does Taiyuan Hengbo Property Management Co., Ltd. belong to?

At present, there are three countries that implement the old-age insurance system in the world, namely, insurance-funded (also known as traditional) old-age insurance, compulsory savings old-age insurance (also known as provident fund model) and national overall old-age insurance.

Endowment insurance is an important part of social security system and one of the five most important social insurances. The so-called endowment insurance (or endowment insurance system) is a social insurance system established by the state and society according to 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.