Is it cost-effective to buy social security yourself?

It is not cost-effective for individuals to purchase social security, as follows:

1. Endowment insurance for flexible employees refers to an insurance policy. Some people who have no fixed job, unemployment or re-employment are flexible employees. In view of the old-age security of this group of people, the state has promulgated and implemented the old-age insurance policy for flexible employees. The pension insurance for flexible employees has different payment years and grades, and the collection standards are also different;

2. If the payment has expired 15 years, the monthly basic pension = basic pension+personal account pension. Among them, the basic pension = the average monthly salary of local employees in the previous year multiplied by 20% when I retire, and the personal account pension = the amount stored in the personal account/120.

Is it cost-effective to pay social security yourself?

First, if you are an employee of a company and only pay 8% of your personal income, you are very cost-effective. In this case, you can pay more if you can and fully enjoy the welfare policies of the state and units.

Second, if you are a flexible employee and need to pay 20%, you need to be cautious, because only 40% of the money you pay goes into your personal account, and the remaining 60% goes into your overall account, which means that the retired employees are now paid. If you don't live long enough, you will lose money.

Third, no matter what the situation is, if there is a gap between 1993 and 2008, and you can make up for the social security during this period, if the national policy allows, I suggest you make up for yourself first. It is very cost-effective to spend the previous things with the current money.

The social security of the employees of the unit is paid by the unit and the individual, with the unit paying the bulk-social security fund as a whole, and the individual paying 8%-personal account. But if it is an individual, that is, a flexible employee or a freelancer, all social security must be paid by himself.

To sum up, it is quite cost-effective to think that employees can fully enjoy the welfare policies of the state and units only by paying 8% social security. However, the individual part and the overall planning part of the flexible employees are paid by themselves, and they have to earn more than 3,000 yuan by themselves. The burden is relatively heavy. Only 40% of the money paid goes into the personal account, and the remaining 60% goes into the overall account. If you don't live long enough, you may suffer.

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.

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.