What kinds of social security are there?

The full name of social security is social insurance. At present, there are three forms of social insurance in China: urban residents' old-age insurance (hereinafter referred to as urban residence insurance), rural household registration old-age insurance (hereinafter referred to as new rural insurance) and urban workers' old-age insurance (hereinafter referred to as occupational insurance).

What's the difference between the three kinds of social security?

Different protected objects

Rural residents who have reached the age of 16 weeks (excluding students at school) and have not participated in the basic old-age insurance for urban workers can voluntarily participate in the insurance at their domicile.

Occupational insurance refers to the residents who have fixed jobs in cities and towns and pay insurance premiums in their work areas under the unified organization of the company.

Urban residential insurance refers to urban non-employed residents who do not meet the conditions for participating in the basic old-age insurance for employees, and should voluntarily participate in the insurance at their domicile.

Different payment methods

The new rural endowment insurance fund consists of collective subsidies, government subsidies and individual contributions. And individual contributions are divided into 100 yuan, 200 yuan, 300 yuan, 400 yuan and 500 yuan.

Work insurance is paid by the company, and employees pay 8%. Special attention should be paid here to urban individual industrial and commercial households and flexible employees. The payment standard is 20% of the average salary of local employees in the first half of the year, of which 8% is included in personal accounts.

Urban housing insurance consists of residents' independent contributions and government subsidies, in which residents' contributions are divided into ten grades, with the highest being 1000 yuan and the lowest being1000 yuan.

Different collection conditions

Old people with rural household registration who need to reach the age of 60 and do not enjoy job insurance benefits can receive a monthly pension.

Urban residential insurance refers to the fact that after the insured residents have paid 15 years, they can receive monthly pensions including basic pensions and personal accounts when they reach the age of 60. Urban residents who have reached the age of 60 and meet the requirements of the above two types of social security can receive basic pensions on a monthly basis without paying fees.

Occupational insurance requires employees of enterprises to reach the legal retirement age (60 years for male employees, 55 years for female cadres and 50 years for female employees), and they have paid 15 years. After retirement, they can receive a monthly pension.