Is it cost-effective for individuals to pay endowment insurance for flexible employees?

Compared with the endowment insurance for urban workers, it is obviously not cost-effective for individuals to pay social security. Endowment insurance for flexible employees refers to an insurance strategy. For those who have no fixed job, unemployment or re-employment, such people are flexible employees. For this kind of people's old-age security, the government has introduced and implemented a flexible pension insurance policy for employees. Flexible employees have different payment years, different payment grades and different collection standards. If the payment exceeds 15, the monthly basic pension is the basic pension plus the personal account pension. The basic pension is calculated by multiplying the average monthly salary of local employees in the previous year by 20% at the time of retirement, and the personal account pension is the amount stored in the personal account divided by 120.

Process of endowment insurance for flexible employees:

1. The applicant submits the application materials to the Insurance Relations Department of the Social Security Bureau, and the handling personnel will review the materials and the applicant's conditions on the spot.

2, the conditions are sufficient for immediate processing, and print the "flexible employment personnel to participate in the basic old-age insurance approval form" (in duplicate), one copy to the applicant, the other copy to the social security bureau after the applicant signs and confirms.

3, do not meet the conditions will not be accepted, and explain the reasons to the applicant.

To sum up, it is definitely not cost-effective to pay social security without a job. Compared with the endowment insurance for urban workers, the amount of social security paid by individuals is relatively large.

Legal basis:

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

Article 64

Social insurance funds include basic endowment insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country. The social insurance fund is earmarked for special purposes, and no organization or individual may occupy or misappropriate it. The basic old-age insurance fund will gradually implement national overall planning, and other social insurance funds will gradually implement provincial overall planning. The specific time and steps shall be stipulated by the State Council.