Is it worth paying your own pension insurance?

Legal analysis: it is more cost-effective to pay the endowment insurance yourself. Individuals need to apply to the social security bureau where the household registration is located to purchase endowment insurance. Procedures include: my ID card, two recent bareheaded one-inch photos, insurance premium, application form and so on. And can only apply for pension and medical insurance. How much to pay is calculated according to the local social wage of the previous year, which is different every year.

Legal basis: Article 10 of the Social Insurance Law of People's Republic of China (PRC) * * * Employees shall participate in the basic old-age insurance, and both employers and employees shall 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.