Which is more cost-effective, endowment insurance or commercial insurance?

Social endowment insurance is more cost-effective, but in fact, the two do not conflict, but complement each other. The basic old-age insurance focuses on basic security, not for profit. On the contrary, the state finance invests a lot of money every year to enrich the endowment insurance fund. Commercial insurance is a kind of insurance carried out by commercial insurance companies, which has a wide variety and is relatively profit-oriented. Although commercial old-age insurance is cheap, it has a major disadvantage, that is, the benefits received after retirement are also fixed. Social security pension can only meet the basic living security, while commercial pension insurance can get higher economic compensation. Commercial endowment insurance in the market is often divided into these categories: traditional endowment insurance, dividend endowment insurance, universal endowment insurance and investment-linked endowment insurance. If you want to buy commercial endowment insurance, you must buy social security first. If the economic conditions are not good, you can not consider commercial endowment insurance because it is not a compulsory measure.

Legal basis:

People's Republic of China (PRC) social insurance law

Tenth employees should participate in the basic old-age insurance, and employers and employees should pay the basic old-age insurance premium. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.

Derivative problem:

How long is the endowment insurance?

When you reach the statutory retirement age, you can enjoy a monthly pension if you have paid 15 years or less 15 years. The state encourages paying more, and people who pay more for a long time will get higher benefits after retirement. For example, basic pension: if it reaches 15 years, it will be calculated as 15% of the average salary of employees and their indexed wages in the previous year, and the payment period will increase by one percentage point for each year, and 40% for 40 years. In addition, when adjusting retirement pension benefits, the payment period is one of the conditions for adjusting benefits. For example, 20 1 1, the 3 yuan will be increased for each full year of payment. Description of retirement age: (1) Men over 60 years old and women over 50 years old, who have worked continuously for 10 years; (2) The male has reached the age of 55, and the female has worked continuously for ten years, engaging in underground, high altitude, high temperature, particularly heavy physical labor or other jobs harmful to health; (3) Men who have reached the age of 50 and women who have reached the age of 45 and have worked continuously for ten years are allowed to retire after being certified by the hospital and confirmed by the labor appraisal committee.