The difference between social security and pension insurance

Social security is actually a kind of insurance provided by the government for people who are partially incapacitated and lose their jobs or whose lives are temporarily affected by illness, but pension insurance is actually a kind of insurance provided by the government for retirees who are incapacitated because of old age. From this point you can actually see the relationship between the two, the scope of the social security to be more broader, social security contains pension insurance, medical insurance, unemployment insurance, as well as workers' compensation insurance and maternity insurance, so the social security is usually said to be the five insurance, while the pension insurance is only a kind of social security insurance.

Can I pay for both social security and pension insurance at the same time?

Normally, social security and pension insurance are in conflict and cannot be paid at the same time. Social security has a pension insurance, so the employee's work unit for the employee to pay the corresponding pension insurance, so the employee wants to pay the pension insurance is not in line with the relevant provisions of the second time, to pay the pension insurance is not a way to get a double pension, so the social security and pension insurance can not be paid together. Therefore, in the process of paying the two insurance, must be clear about the relationship between pension insurance and insurance, to avoid duplication of payment, for their own trouble.

What is the impact of pension insurance?

1, pension insurance interruption period is not counted as years of service, future years of service wages will be reduced. The length of service is an important part of the salary, especially after a long period of work, this part of the salary will be more and more. Therefore, if you have actually worked for 10 years and have only accumulated 7 years of social security contributions, then your seniority pay will be calculated on the basis of 7 years. The more the pension is paid, the more the pension can be received after retirement.

3, the pension is based on the average salary of the year of retirement as a parameter, but will be after the retirement of the lifetime of the interruption of the time accumulated, that is to say, 60 years of age to retire, even if the payment of a full 15 years, the cumulative break of 12 months in the middle of the year, it will be based on the previous year's average social wage to receive a pension.