What is the difference between flexible employment and residential social security

There are significant differences between flexible employment and residents' social security in terms of pension insurance. First of all, the pension insurance of flexible employment belongs to the category of employees' pension insurance, and they need to bear the contributions to the integrated account and individual account by themselves. The calculation of retirement benefits, inter-provincial transfers and retirement policies, this part is consistent with the provisions of the enterprise employees' pension insurance, there is no difference.

In comparison, the level of contributions and benefits for urban and rural residents' pension insurance is lower. Individual contributions as well as government subsidies are credited to individual accounts, and there is no social co-ordination account. Post-retirement benefits consist of two main components: the basic pension and the individual account pension. The basic pension is fully subsidized by the government, which means that it carries stronger social welfare attributes and aims to provide more basic protection.

In summary, pension insurance for flexibly employed people is closer to that of corporate employees, while pension insurance for urban and rural residents focuses on basic livelihood protection, with different policies and treatment. When choosing, individuals should decide on the type of pension insurance that suits them based on their employment status and desired level of protection.