Job Recruitment Website - Social security inquiry - Is social endowment insurance social security?
Is social endowment insurance social security?
Legal analysis: Yes, endowment insurance refers to a kind of social insurance established by the state and society according to laws and regulations to solve the basic livelihood of workers after they reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age. Social security is the abbreviation of social insurance, which refers to five kinds of insurance: endowment insurance, medical insurance, maternity insurance, unemployment insurance and industrial injury insurance.
Legal basis: Article 18 of the Social Insurance Law of People's Republic of China (PRC) established the normal adjustment mechanism of the basic pension. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.
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