Does the social security connection of Shenzhen residence permit mean providing for the aged?

Legal analysis: social security continuity is not equal to endowment insurance.

Social security in Shenzhen includes endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

Social security paid by individuals includes: endowment insurance, medical insurance and maternity insurance.

Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC) stipulates that individuals who have participated in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for fifteen years when they reach the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.