Why buy old-age insurance when you have a pension? What is the difference?

? Although pension can play a certain role in providing security for the aged, it is far from enough to rely solely on pension to support the comfortable and worry-free life of the elderly. Now the state is vigorously supporting the development of commercial endowment insurance, and more and more people buy this kind of insurance. Commercial endowment insurance is not only safe and reliable, but also can create higher income and better protect our old age.

Further reading: What's the difference between a pension and a pension? Detailed explanation, easy to understand. "

What's the difference between a pension and a pension?

1, different payment methods

If you want to enjoy pension benefits, you must pay pension insurance. Employees' social security is usually paid at the rate of 20% by enterprises and 8% by individuals. After retirement, you have to pay at least 15 years before you can start to receive it.

Pensions do not need to be paid by everyone, and the expenses are borne by enterprises or units.

2. Different sources of funds

Social pension is a kind of social security system, which is mandatory, paid by units and individuals and coordinated by the state. Retirees receive pensions from social insurance funds managed by the state.

Pensions do not need to be paid, and are issued by the state or local finance.

3. Different recipients

The main recipients of pensions are employees and residents, as well as some flexible employees and farmers. As long as you pay social security, you can get a pension when you reach retirement age.

Pensioners are generally civil servants, government agencies and staff of public institutions.

4. The amount received is different.

How much pension you can receive after retirement is related to the payment period, the average social salary in the year before retirement, and your own average contribution salary. If the payment time is too short, the average salary of the local society is not high, and your own salary level is relatively low, then the pension you receive after retirement will not be too high.

The amount of pension is mainly related to length of service and retirement age. The longer the working years, the higher the pension.

Pension and retirement fee are both important components of China's old-age insurance. In order to provide better old-age security and reduce the financial pressure of children, everyone can buy some wealth management products to increase their income in their later years.

I hope it helps you!

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