Which is more cost-effective, saving money for the elderly or buying social security?

It is more cost-effective to buy social security. If you deposit 1000 yuan every month, that is, one year 12000 yuan, even if the annual income is 5%, the total principal in 2005180,000 yuan, the interest will not exceed 260,000 yuan! If you are between 60 and 80, your average monthly income is less than 1 100 yuan. 1 100 yuan is enough for the elderly? Just eating is enough, not even catching a cold. Similarly, from the age of 30, I have been saving for 30 years, and the total principal and interest is just over 620,000. At the age of 60, the average monthly income exceeds 2580 yuan, which is a waste of money for yourself. If you pay 1 0,000 yuan of social security every month, how much pension can you get by paying 15 years of social security according to the interest of personal account of basic savings insurance for urban employees? It is estimated to pay 1000 yuan every year, which is equivalent to paying social security according to the average social wage every year. Monthly pension 1890 yuan. This is more than the monthly deposit 1000 yuan, 800 yuan. This is not even inflation. Everyone's attitude towards social security is more or less different. Regardless of whether you are a freelancer or a fixed position, you will basically pay a certain amount of social security every month.

Legal basis: Article 2 of People's Republic of China (PRC) Social Insurance Law The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance. To ensure citizens' right to receive material assistance from the state and society in accordance with the law in cases of old age, illness, work injury, unemployment and maternity.