What is the difference between supplementary payment and remittance of endowment insurance?

There are the following differences between supplementary payment and remittance of endowment insurance:

1. Repayment: Individuals or units that fail to pay the old-age insurance premium according to the prescribed time or standard may voluntarily repay the old-age insurance premium to the social security institution within the prescribed payment period, so as to meet the payable standard.

2. Remittance: refers to the payment of endowment insurance premiums to social security institutions by qualified individuals or units according to the prescribed time and standards.

The main difference between overdue payment and remittance is time and payment reason. Repayment refers to the expenses that an individual or unit fails to pay the endowment insurance premium according to the specified time or standard and needs to repay within the specified repayment period. Remittance is a normal way to pay endowment insurance premium according to the stipulated time and standard.

The payment conditions of endowment insurance include:

1. Age conditions: In general, employees who need to participate in endowment insurance 16 years old and above, retirees 60 years old and above;

2. Eligibility: Endowment insurance is applicable to employees of enterprises, staff of government agencies and institutions, urban residents and rural residents. Among them, employees of enterprises and staff of government agencies and institutions are generally remitted by the unit; Urban residents and rural residents need to pay their own fees or be subsidized by the government;

3. Payment conditions: the insured shall pay the endowment insurance premium according to the regulations, and the payment standard and payment base shall be formulated by the local social insurance department according to the relevant national and local regulations. Specific payment methods include monthly payment, quarterly payment, semi-annual payment or annual payment.

To sum up, the old-age insurance system and specific payment situation of different regions and different insured people may be different, and the specific situation should be consulted with the local social insurance department or relevant staff.

Legal basis:

Article 2 of People's Republic of China (PRC) Social Insurance Law

The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.