Do I need to pay five insurances and one gold at the age of twenty?

Legal analysis: five insurances and one gold, if it is necessary to pay, pay as soon as possible, especially endowment insurance and provident fund, which will be small wealth in the future. Endowment insurance can't be paid in a year or two.

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

Article 4 Employers and individuals in People's Republic of China (PRC) shall pay social insurance premiums according to law, and have the right to inquire about payment records and personal rights and interests records, and ask social insurance agencies to provide social insurance consultation and other related services.

Individuals enjoy social insurance benefits according to law and have the right to supervise the payment of their own units.

Fifth people's governments at or above the county level shall incorporate social insurance into the national economic and social development plan.

The state raises social insurance funds through multiple channels. People's governments at or above the county level shall give necessary financial support to social insurance.

The state supports social insurance through preferential tax policies.