The difference between social security and endowment insurance

Legal analysis: Endowment insurance belongs to the category of social security. The main differences between social security and old-age insurance are as follows: First, the concepts of social security and old-age insurance are different: old-age insurance is a kind of social insurance established by people who lose their ability to work and quit their jobs because of old age; Social security is the abbreviation of social insurance, including pension, medical care, maternity, unemployment and work injury. Second, the contents of social security and endowment insurance are different: although social security includes endowment insurance, it is not limited to endowment insurance, but also includes four other insurances; Endowment insurance only provides a guarantee for the elderly. Third, the purpose of purchasing social security and endowment insurance is different: the main purpose of endowment insurance is to protect the basic life after old age; The purchase of social security can not only guarantee the basic life after old age, but also include medical insurance, unemployment insurance, work injury insurance and maternity insurance.

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

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

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.

Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premium should be paid by the government during the payment period. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.