Is Social Security the same as a pension? What's the difference? How does the concept of social security and pensions differ?

Individual social security is managed by the various social insurance institutions, the insurance category of the operator, because the social security is attributed to the state to manage, not due to the operation of the main purpose of the social security system is a component of the construction of China's social security system to support the specific content. But the nature of the commercial insurance properties, said commercial insurance characteristics, is to pay premiums, and then in accordance with the social insurance system agreed to enjoy the corresponding social insurance treatment.

Theoretical social insurance, divided into enterprise employee insurance, urban residents of the two categories of social security; narrow social insurance is only expressed in the urban area of enterprise employee insurance, including the employee's pension insurance, basic medical insurance, unemployment insurance, maternity insurance, industrial injury insurance five commercial insurance. Enterprise employee insurance is important to pay the social security object is the urban area in the workforce, other urban residents can be in the form of freelancers, participate in the enterprise employee insurance, but you can apply for the employee's pension insurance premiums, the employee's basic medical insurance 2 types; for the urban residents who have applied for the urban area of the pension insurance, you can run the residents of the old age pension insurance, urban and rural residents of the health care business insurance.

What is meant by pension insurance premium?

Pension insurance is that we pay insurance in accordance with the rules of social pension insurance, but also a minimum contribution period of more than 15 years, to do the legal retirement age prescribed by law after enjoying the treatment in accordance with the law, pension attributes to protect the basic, in fact, that is to pay pension insurance is the way, is a prerequisite for the pension in accordance with the rules of the pension pension is the goal, is to enjoy the treatment of the results. When you are young, monthly or yearly punctual payment of pension insurance, its final goal is to their own old age, to the legal retirement age prescribed by law, can be in accordance with the monthly pension pension.

China's current social pension insurance is divided into urban pension insurance, residential pension insurance 2 types, belonging to two different social development of pension insurance policy, pay different types of social pension insurance enjoy different types of pension treatment. As a unit worker, the unit worker himself or herself is allocated to pay the proportion of the pension insurance, the enterprise to pay part of the contributions to the integrated account, the individual to pay part of the contributions to the personal account; according to the freelance method of payment of pension insurance, you must pay the full amount of social pension insurance contributions, in which 12% of the total account, 8% of the personal account.

Part of the integrated account, the key for the purchase of old-age pensions in the old-age pensions, the future of China's annual adjustment to enhance the pension insurance of retired workers, personal accounts relative to the number of accrued months to receive after the end of the personal account pension insurance, after the death of the treatment, etc.; personal account key for the purchase of personal account pension insurance, personal accounts relative to the number of accrued months to receive after the end of the personal account pension insurance. Retired workers are still alive, the integrated account to continue to pay the individual account pension insurance benefits, which is the employee pension treatment.

People who pay residents' pension insurance work, the use of individual contributions and state subsidies combined payment method, individual contributions and state subsidies, all credited to the individual account. Payment of contributions for 15 years, reaching the age of 60 can receive old-age pension. In which the pension part of the expenditure borne by the various financial bureaus, the pension of each province is not the same; personal account part of the individual account for the calculation of the personal account pension insurance benefits, is based on the total amount of personal account to divide by 139 months, the personal account to receive the end of the living, by the pension fund to bear the distribution again, attributable to the lifelong to receive. This is the residents of the pension insurance pension treatment.

Overall, social security is a big concept, including not only social pension insurance, but also other types of social security such as health insurance. In the social pension insurance is divided into two types of pension insurance and residents' pension insurance, to pay the pension insurance for a total of 15 years, to achieve the legal retirement age stipulated by the law can receive the pension pension. If the social security is a general idea, social pension insurance is a sub definition, the pension is to pay the social insurance in the social security of social pension insurance we later enjoy the treatment, this is the relationship between the two and the fundamental difference.