Disadvantages of self-employed people buying social security

Self-employed people may have the following disadvantages when purchasing social security:

1. Heavy expenses: Compared with working in a company, social security expenses are shared by the company and individuals, and self-employed individuals need to bear the social security expenses in full, which undoubtedly increases their economic burden. For self-employed individuals with relatively weak financial strength, they may face certain pressure.

2. Social security benefits may be limited: As the payment base and proportion of self-employed individuals may be low, their social security benefits may also be reduced accordingly. Such as medical insurance, the proportion and scope of reimbursement may be limited.

3, cumbersome procedures: self-employed people need to go to the social security agency to declare and pay their own fees. Compared with centralized handling when working in the company, self-employed individuals may need to spend more time and energy to handle relevant procedures.

4. Insufficient awareness of social security: Some self-employed individuals may be busy with their business and have insufficient understanding of the importance of social security, resulting in social security being omitted or withheld, thus affecting their social security rights and interests.

Materials required for social security payment:

1. Personal ID card and its copy.

2. A copy of the first page of the household registration book and my information page.

3. Proof of employment unit.

4. My latest payment voucher.

To sum up, the materials required for social security payment mainly include personal ID card and its copy, copy of the first page of household registration book and my information page, proof of employment unit and my latest payment voucher. When handling social security payment, you need to prepare these materials and handle them in accordance with the prescribed procedures.

Legal basis:

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

Article 16

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.

Article 17

If an individual who participates in the basic old-age insurance dies due to illness or non-work, his survivors can receive funeral grants and pensions; Persons who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance. The required funds are paid from the basic old-age insurance fund.