What's the difference between social security and endowment insurance?

Legal analysis: Old-age insurance is one of social security insurances, including medical insurance, maternity insurance, industrial injury insurance and unemployment insurance. To tell the difference between social security and endowment insurance, they belong to the relationship between inclusion and inclusion.

The difference between social security and endowment insurance

1. These two concepts are different. Endowment insurance refers to a kind of social insurance established by the state and society according to laws and regulations to solve the basic livelihood of workers after they reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age. Social security is the abbreviation of social insurance, which refers to five kinds of insurance: endowment insurance, medical insurance, maternity insurance, unemployment insurance and industrial injury insurance.

2. The content is different. Social insurance includes endowment insurance, but it is not limited to endowment insurance, which is only one of the five types of social insurance. Usually we buy social insurance including old-age insurance, but we buy a single old-age insurance, excluding medical insurance and so on.

They have different purposes. The main purpose of purchasing endowment insurance is to ensure the basic life after old age. Buying social security can not only guarantee the basic life after old age, but also guarantee the basic medical service and the basic life during unemployment and work-related injuries.

Legal basis: People's Republic of China (PRC) Social Insurance Law.

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of 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.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.

Twenty-third employees should participate in the basic medical insurance for employees, and employers and employees should pay the basic medical insurance premiums in accordance with state regulations.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic medical insurance for employees and other flexible employees can participate in the basic medical insurance for employees, and individuals pay the basic medical insurance premium in accordance with state regulations.

Article 35 The employing unit shall pay the work-related injury insurance premium according to the total wages of employees and the rate determined by the social insurance agency.

Forty-fourth employees should participate in unemployment insurance, and employers and employees should pay unemployment insurance premiums in accordance with state regulations.

Fifty-third employees should participate in maternity insurance, the employer should pay maternity insurance premiums in accordance with state regulations, and employees do not pay maternity insurance premiums.