What's the difference between social security and endowment insurance?

The differences between social security and endowment insurance are as follows:

1, the concept is different: the concept of social security is different from that of endowment insurance. The concept of social security refers to social insurance, which refers to the social security system implemented by the state to prevent and share risks such as old-age pension, unemployment, illness, death and accidents. , including basic old-age insurance, basic medical insurance, unemployment insurance, work injury insurance, maternity insurance, etc. The concept of old-age insurance refers to the state and society's efforts to solve the problems that workers are realizing according to laws and regulations.

2. Different contents: Social security includes endowment insurance, but it is not limited to endowment insurance. Social insurance mainly includes endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

3. Different purposes: the main purpose of purchasing social security is to ensure the basic life after old age, while the main purpose of purchasing endowment insurance is to ensure the basic life after old age and during unemployment and work-related injuries.

The conditions for receiving old-age insurance are as follows:

1, over 60 years of age, not enjoying the basic old-age insurance benefits for urban enterprise employees, and meeting one of the following conditions, the insured can apply for a pension;

2. For the insured who has reached the age of 15 at the time of receiving the pension, the accumulated payment shall not be less than 15 years;

3. For the insured who are under 15 years of age when receiving the pension, the cumulative payment period shall not be less than the period when these Measures are implemented;

4. The insured who has reached the age of 60 and chooses to pay for insurance can pay the payable amount 15 in one lump sum and receive a monthly pension. The insured person who chooses not to pay the fee and whose children meet the insurance conditions and have paid the fee can receive the basic pension on a monthly basis.

To sum up, social security is a comprehensive security system, including five basic insurances, and endowment insurance is one of them, mainly to protect the life of employees after retirement.

Legal basis:

Article 21 of People's Republic of China (PRC) Social Insurance Law

The treatment of new rural social endowment insurance consists of basic pension and personal account pension.

Rural residents who participate in the new rural social endowment insurance meet the conditions stipulated by the state and receive the benefits of the new rural social endowment insurance on a monthly basis.