What does it mean to transfer rural insurance to social security?

Changing rural insurance into social insurance means changing rural old-age insurance into basic old-age insurance for urban workers. The traditional rural endowment insurance can't meet people's demand for a higher level of security for a long time because of its single profit model. To this end, the government has gradually introduced the policy of transferring rural insurance to social insurance, aiming at allowing farmers to participate in the basic old-age insurance for urban workers and enjoy the same basic old-age insurance benefits as urban workers.

The transformation from rural insurance to social insurance has greatly promoted the welfare of farmers. In the past, farmers could only enjoy the relief treatment of local policies, and these treatment levels were low, making it difficult to guarantee the quality of life of farmers in their later years. Through the system of transferring rural insurance to social insurance, farmers can enjoy the same basic old-age insurance benefits as urban workers. The key is that this kind of pension is relatively stable, so that the elderly can get reliable and stable old-age support.

The transition from rural insurance to social security system needs the joint construction and sharing of the government, social insurance institutions and rural residents, so as to be coordinated. Among them, the government should actively promote the transformation from rural insurance to social insurance and put it in place; Social security institutions should give full play to ensure that there are no problems such as asymmetric information, low management level and unfair examination and approval in the implementation of rural insurance to social security system; Rural residents need to go through the relevant formalities and pay the relevant fees in person at the domicile and social insurance institutions, actively handle the basic old-age insurance for urban workers, and jointly promote the transfer of rural insurance to social security.