What is social security for residents?

Legal analysis: Social endowment insurance for urban and rural residents is a social insurance organized and implemented by the government and an important part of the national social security system. The social endowment insurance for urban and rural residents adheres to the basic principles of "full coverage, basic protection, flexibility and sustainability", aiming at ensuring the basic livelihood of the insured in old age; Adopt a financing model that combines individual contributions, collective subsidies and financial subsidies.

Legal basis: Law of the People's Republic of China on the Protection of the Rights and Interests of the Elderly Article 28 The state guarantees the basic livelihood of the elderly through the basic old-age insurance system.

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 18 The state establishes a normal adjustment mechanism for basic pensions. 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.