Is the old-age insurance cheating?

Endowment insurance is one of the five most important social insurances, which is based on some laws and regulations of the state and society.

At the same time, the insured can only meet the following two conditions: (1) meeting the retirement conditions stipulated by the state and handling relevant procedures; According to the provisions of the basic old-age insurance premium accumulated payment period of 15, approved by the administrative department of labor and social security, can receive a monthly basic pension and funeral subsidies.