Which is more cost-effective, paying for your own social security or saving money in the bank?

Buying social security is more cost-effective than saving money in a bank. If you pay social security on time, then you can get pension benefits after retirement. In addition, this pension entitlement does not mean that you can only receive it for a period of time, it can be received for life. Secondly, the interest rate of bank deposits is relatively low, sometimes even lower than the growth of the Consumer Price Index (CPI) and the growth of prices. Therefore, from this point of view, people will deposit money in the bank, in fact, a kind of depreciation of the value of the state, such a practice is not cost-effective at all. One of the biggest differences between bank deposits and social security is that bank deposits don't provide you with protection, but social security does. There is also the fact that there are two parts to the pension account in social security, the individual pension account and the coordinated pension account. After retirement, if you have already received all the money in your individual pension insurance account, then you can continue to receive the money in your comprehensive pension insurance account. Therefore, from this point of view, pension insurance is also more cost-effective than bank deposits.

:Benefits of paying social security

1, the more you pay personally, the more the organization puts in for you. Five insurance and gold contributions are the same base unit and individuals bear different proportions, the unit contribution is about two times the individual contribution.

2, the social security fund contributions are tax-free, not only to pay no personal income tax, treatment to receive no personal income tax, and the special account is not deducted interest tax; and if the salary as a payroll to me, is required to withhold personal income tax, deposited in the bank, there will be interest tax.

3. After paying pension insurance for a minimum number of years and reaching the legal retirement age, you can retire and receive a monthly pension. Pension can be received until death, and with the improvement of the standard of living of society and "only increase", will be adjusted every year to increase the capital, can make the old age to get stable and reliable protection.

4, pay medical insurance can get medical insurance reimbursement; if the accumulated in-service contributions to meet the minimum number of years, after retirement can not continue to pay the basic medical fees and can enjoy higher than the level of reimbursement of in-service health insurance.

5. Paying for maternity insurance reimburses the cost of prenatal checkups, family planning surgery and childbirth surgery. Moreover, maternity insurance premiums are fully borne by the organization.

6, pay unemployment insurance can get unemployment insurance benefits and other subsidies in case of unemployment. Unemployment insurance is a policy-based insurance, which is usually not available in commercial insurance companies.

7, pay work injury insurance can be in the encounter of industrial accidents or occupational disease compensation, not afraid of 10,000, just be afraid of the eventuality, especially some of the major accidents, do not have to worry about small companies to delay payment of treatment. Moreover, the premiums for work injury insurance are fully borne by the organization.

8, the payment of housing fund is equivalent to the unit with you in the same proportion to deposit a tax-free income, can be withdrawn for housing-related purposes, if the job is not used up, can also be a one-time take out of the retirement; in addition, housing fund loan interest rates are lower than commercial loans.