What's the use of social security that pays 100 a year?

Agricultural registered population can not apply for self-paid social security, but can only buy new rural insurance and medical insurance.

The annual payment of 100 yuan to 500 yuan is different from the annual payment base. The longer the payment period, the more contributions will be made, and the more pensions will be received when you retire legally.

The difference between 100 and 500 is the future personal account deposit.

After 60 years old, receive a pension =55+ (individual contributions+provincial subsidies+city and county subsidies+interest) ÷ 139.

The difference between individual contributions here is how much to pay each year.

If the general fee is 500 yuan, the three subsidies add up to about 70~80 yuan per year, and the specific amount is determined by the regional government. Interest is the annual interest generated by your contributions and government subsidies, which is not much different from current savings.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.