Is it necessary to buy social security at your own expense?

There is no need to buy social security at your own expense.

Social security system is a comprehensive system endowed by the state, which can guarantee the special needs of citizens in old age, illness, disability, unemployment, childbirth, death and facing difficulties in life. Social security guarantees all aspects of life and its importance is self-evident. However, in real life, not everyone has a unit to help them pay social security. Some people want to enjoy all kinds of social security benefits, so they can only try their best to participate in insurance payment. There are three main ways for individuals to participate in insurance: affiliated units to participate in insurance; Pay social security for flexible employees; Participate in social security for urban and rural residents.

The advantages and disadvantages of paying social security at one's own expense are as follows:

1, paying social security at your own expense can provide more protection for yourself, whether it is medical security or future pension, compared with not paying social security;

2. Disadvantages of paying social security at one's own expense: all the social security fees that need to be paid need to be borne by oneself, and only 40% of the social security fees paid will go into personal accounts. If you die unfortunately during this period, social security will only refund the cost and interest of your personal account.

To sum up, there are advantages and disadvantages. The advantage of paying social security at one's own expense is that you can enjoy the rights of medical insurance, retirement and pension, and the disadvantage is that all the expenses paid are borne by individuals.

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, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.

Article 10

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Article 23

Employees should participate in the basic medical insurance for employees, and employers and employees should pay the basic medical insurance premiums in accordance with state regulations.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic medical insurance for employees and other flexible employees can participate in the basic medical insurance for employees, and individuals pay the basic medical insurance premium in accordance with state regulations.