Is it necessary to pay endowment insurance?

Endowment insurance is not compulsory, but voluntary. The specific reasons are as follows:

1. If the client is a freelancer or has no job, it is entirely up to him to decide whether to pay the endowment insurance or not. Freelancers can pay old-age insurance for residents or employees as flexible employees. It is also possible not to pay;

2. If the parties have a formal unit and work normally, it is generally not feasible not to pay endowment insurance. Because according to relevant regulations, employers and workers must participate in social insurance and pay social insurance according to law. The endowment insurance premium in social security needs to be paid by both the unit and the employee. Therefore, it is necessary for the unit to pay endowment insurance to employees, and it is illegal not to pay it.

If the company does not pay the old-age insurance, it can apply for arbitration to protect its rights and require the unit to pay the old-age insurance. The specific provisions are as follows:

1, "Regulations on the Administration of Reporting and Paying Social Insurance Fees" requires that the employer shall register social insurance for its employees and declare and pay social insurance fees within 30 days from the date of employment. Without social insurance registration, the social insurance agency shall verify the social insurance premium it should pay;

2. The social insurance premiums mentioned in the regulations refer to the basic old-age insurance premiums, basic medical insurance premiums, work-related injury insurance premiums, unemployment insurance premiums and maternity insurance premiums paid by employers and their employees according to law;

3. According to the regulations, the employer shall inform the employees themselves of the details of paying social insurance premiums on a monthly basis, inform the employees' congress of the unit every year or announce the annual payment of social insurance premiums in a prominent position in the unit's residence, and accept the supervision of the employees. The details and changes of the payment declared by the employer on behalf of the employee must be signed by the employee himself and kept by the employer for future reference;

4. In view of the fact that some employers fail to pay social insurance premiums in full and on time, the regulations are clear, and the social insurance agency shall order them to pay within a time limit or make up for them, and impose a late fee on a daily basis from the date of default; If it fails to pay within the time limit, the administrative department of social insurance shall impose a fine of 1 times and less than 3 times.

Legal basis: Article 10 of the Social Insurance Law of People's Republic of China (PRC).

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly 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.

Article 12

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its 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.