Is the pension social security?

There is a difference between a pension and a pension.

There are essential differences between pension and retirement pension, and there are strict policy differences: it means that civil servants and staff of institutions have occupational annuities, while employees of enterprises (state-owned, collective, private and foreign-funded) have enterprise annuities. Pensions are provided free of charge by units or enterprises. Social endowment insurance premiums are generally withheld and remitted by the insured. After employees retire, they will receive retirement fees every month until their death. Social endowment insurance is uniformly distributed by government agencies and institutions.

Retirement pension is a monthly or lump-sum insurance benefit paid by the state in monetary form according to the provisions of the social insurance system according to the contribution to society and the qualifications or retirement conditions of workers after they are old or lose their ability to work. Mainly used to protect the basic needs of employees after retirement. Retirement pension refers to the retirement pension paid by civil servants, staff of public institutions and employees of enterprises after reaching the legal retirement age, which can also be called retirement salary. The main department that issues pensions (wages) is the Social Security Bureau under the Human Resources and Social Security Bureau.

Endowment insurance is divided into social endowment insurance and commercial endowment insurance. Social endowment insurance is the social security you paid when you were young, and then the money you received in old age according to the pension level. Commercial endowment insurance is the money you pay to the insurance company. Pensions refer to pensions paid by rural farmers, five-guarantee households, entitled groups over 60 years old, employees with bankruptcy difficulties in town-run enterprises, urban and rural Red Army veterans, soldiers who fought before liberation, soldiers who fought to resist US aggression and aid Korea, soldiers who went to Vietnam to fight, separated family members, and urban entitled groups. The main department that issues pensions is the Civil Affairs Bureau. Generally speaking, according to the provisions of the social insurance system, retirement pension is paid by the state on a monthly basis according to employees' contribution to society and retirement conditions, so as to ensure the life needs of employees after retirement. Endowment insurance is the basic social endowment insurance, which is a social insurance system established by the state and society according to certain laws and regulations to solve the problem that workers lose their ability to work when they reach a certain age.