How many kinds of social security are there in China?

Endowment insurance is generally divided into three types: basic endowment insurance, enterprise supplementary endowment insurance and employee personal savings endowment insurance.

Difference:

1. Basic old-age insurance

It is a kind of endowment insurance enforced by the state. Enterprises and employees share the cost of old-age insurance. Enterprises account for the majority, and employees account for a small part. Employees who reach the retirement age stipulated by the state or go through retirement formalities for other reasons can receive pension insurance on a monthly basis.

2. Supplementary endowment insurance for enterprises

This insurance is not compulsory by the state, but voluntary by the enterprise itself. According to the enterprise's own operating conditions, on the basis of the basic old-age insurance, establish supplementary old-age insurance for enterprise employees.

3. Employee personal savings endowment insurance

This is a kind of endowment insurance in which employees voluntarily participate and pay premiums through social insurance institutions.