Is it still employee social security to buy out by yourself?

After the unit buys out, it pays social security on its own, which belongs to employee pension insurance.

Buying out and continuing to pay social security does not mean continuing to enjoy the complete social security benefits for employees, but you need to bear all the expenses yourself. The specific operation methods and conditions vary from region to region and policy. Workers should weigh the pros and cons and make a decision after understanding the relevant policies. Please refer to local laws, regulations and policies for details.

Buying out their own renewal insurance does not mean that employees continue to enjoy complete social security benefits for employees. In China, employees' social insurance premiums are usually paid by employees and employers, which are used to pay pension insurance, medical insurance and unemployment insurance. If employees choose to buy intermittent payment, they need to bear all the social insurance expenses themselves, and the employer will no longer bear part or all of the expenses.

The benefits of social security are as follows:

1. Old-age insurance: 15 years later, you can receive a monthly pension after reaching retirement age.

2. Medical insurance: The medical expenses incurred by the insured due to illness can be reimbursed in proportion.

3. Unemployment insurance: The insured whose livelihood is temporarily interrupted due to unemployment can receive unemployment benefits while receiving vocational skills training.

4. Work-related injury insurance: In case of accidents or occupational diseases at work, you can get material help.

5. Maternity insurance: During pregnancy and childbirth, the state and society provide medical services, maternity allowance and maternity leave.

To sum up, buying out social security means that employees choose to pay the remaining social security fees in one lump sum after paying social security for a certain number of years, thus terminating the continued payment of social security. This practice may have a certain impact on the protection of workers' rights and interests. On the one hand, buying out social security may cause employees to lose the right to enjoy social security-related benefits in the future, such as pension and medical insurance. On the other hand, after buying out social security, employees may have to bear the future medical expenses and pension gap, which increases their personal burden. Therefore, when employees consider buying out social security, they should comprehensively consider their own economic situation, future risk tolerance and the importance of safeguarding rights and make wise decisions.

Legal basis:

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

Chapter VII

Collection of social insurance premiums

Article 61

Social insurance premium collection agencies shall collect social insurance premiums in full and on time according to law, and regularly inform employers and individuals of the payment.