Is it cost-effective to pay social security yourself

It is not cost-effective for individuals to pay social security. Endowment insurance for flexible employees refers to an insurance strategy. For those who have no fixed job, unemployment or re-employment, such people are flexible employees. For this kind of people's old-age security, the government has introduced and implemented a flexible pension insurance policy for employees.

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Article 64 of People's Republic of China (PRC) Social Insurance Law

Social insurance funds include basic endowment insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country. The social insurance fund is earmarked for special purposes, and no organization or individual may occupy or misappropriate it. The basic old-age insurance fund will gradually implement national overall planning, and other social insurance funds will gradually implement provincial overall planning. The specific time and steps shall be stipulated by the State Council.