Does social security mean pension?

Social security is not a pension, it includes old-age insurance. The accumulated years of paying old-age insurance reach 15, and you can receive a monthly pension after reaching the legal retirement age. Endowment insurance is one of the most important types of insurance in social security, which can make the insured have a certain source of income after retirement and maintain the basic needs of life.

Under normal circumstances, the longer the period of paying social security, the higher the base, and the more pensions you get after retirement. Social security includes endowment insurance, medical insurance, maternity insurance, industrial injury insurance and unemployment insurance. Those who buy flexible employment social security as flexible employees can only buy endowment insurance and medical insurance, and all expenses are paid by individuals. However, if employees' social security is purchased, pension insurance, medical insurance and unemployment insurance are paid by individuals and companies according to a certain proportion, while maternity insurance and industrial injury insurance are not borne by individuals, and all expenses are borne by companies.

Pension, also known as pension and retirement fee, is the most important social pension insurance treatment. That is to say, according to the relevant national documents, the monthly or lump-sum payment of insurance benefits in the form of money is the need to benefit the society and is mainly used to ensure the basic living needs of employees after retirement according to their contributions to society and their qualifications or retirement conditions. Pensions are accumulated and operated according to the principle of accumulation by the state, the collective and the individual. When people are in their prime of life, part of the wealth created is invested in pension plans to ensure a sense of security in their later years.

From 2005 to 20 15, although the China municipal government raised the pension level of enterprise retirees for the first consecutive year 1 1, all sectors of society were not "ungrateful" because of the great difference in pension level, currency depreciation and rising prices. On the contrary, they expressed dissatisfaction and doubts about the declining pension replacement rate year by year. The proportion of pension in wages has dropped for nine consecutive years, which is lower than the international warning line.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law in case of old age, illness, industrial injury, unemployment and maternity.

Article 58 An employing unit shall, within 30 days from the date of employment, apply to the social insurance agency for social insurance registration for its employees. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay. Employees-free individual industrial and commercial households who voluntarily participate in social insurance, part-time employees who do not participate in social insurance in the employing unit and other flexible employees shall apply to the social insurance agency for social insurance registration.