Advantages and disadvantages of paying social security at one's own expense

Advantages and disadvantages of paying social security at one's own expense:

First of all, the benefits of paying social security at one's own expense

1, paying social security at your own expense is equivalent to buying a guarantee for your future, such as endowment insurance and medical insurance, which can be used for a lifetime. Buying a house with provident fund can save a lot of money.

2, can reduce the burden for children, after all, now there are more and more only children, the greater the responsibility, if you have a pension after you get old, you can reduce the financial burden of children to a certain extent.

3. You can contribute to the country and society, because the money you pay now is for the retired people, which means that you are now helping the country to support the elderly and stabilizing the social order to some extent.

5. After paying social security, you can enjoy medical insurance and receive a pension after retirement;

4. Provide certain insurance protection for life, and if an insurance accident occurs, it can alleviate the economic pressure brought by the disease;

Second, the disadvantages of paying social security at one's own expense.

1, the full self-funded social security premium is high, generally 40% of the local average wage level;

2. Only 40% of the premiums paid by the full self-funded social security will enter the personal account, and most of the rest will enter the social pooling account;

3. If you die during the payment period, social security can only refund the balance of your personal account.

Legal basis:

Article 58 of the Social Insurance Law of People's Republic of China (PRC) * * * The employer shall, within 30 days from the date of employment, apply to the social insurance agency for social insurance registration for employees. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay.

Employees-free individual industrial and commercial households who voluntarily participate in social insurance, part-time employees who do not participate in social insurance in the employing unit and other flexible employees shall apply to the social insurance agency for social insurance registration.

The state establishes a national unified personal social security number. Personal social security number is a citizen's identity number.