What is the supplementary insurance of endowment insurance?

The definition of supplementary endowment insurance is as follows:

1. Enterprise supplementary endowment insurance is an additional insurance specially set up for enterprise employees after fulfilling the obligation to pay the basic endowment insurance premium according to their own economic strength, in addition to the basic endowment insurance formulated by the state;

2. Enterprise supplementary endowment insurance is at the second level in China's multi-level endowment insurance system, which is the supplement and perfection of enterprise's basic endowment insurance for enterprise employees.

The process of paying individual endowment insurance is as follows:

1. Individual social endowment insurance: the applicant shall bring relevant information to the social security bureau where the household registration is located. Due to the different social insurance policies in different regions, the payment methods are also different. Please consult the Social Security Bureau for details.

The insured person chooses the grade according to his own labor income, and the endowment insurance agency entrusts the post office to collect it monthly. The insured person holds the account opening certificate and ID card to the designated post office to open an account, pay the passbook and modify the password;

The insured shall deposit a certain amount of endowment insurance premium before 25th of each month (it can be deposited for one quarter, one year or longer, but at least one month's payable endowment insurance premium);

Before the 5th day of each month, receive the endowment insurance premium of last month directly from the passbook of the insured.

2. Commercial old-age insurance: Buying commercial insurance means that consumers choose a suitable old-age insurance product according to their own needs by determining the amount of protection, the way to receive pensions and the number of years to receive them.

To sum up, it belongs to a kind of group life insurance. Enterprise supplementary endowment insurance is the core part of China's three-level social endowment insurance system.

Legal basis:

Article 10 of People's Republic of China (PRC) Social Insurance Law

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Article 12

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.