Is social security is social pension insurance

No, pension insurance is a kind of social security. Pension insurance is a kind of basic insurance in social security, and is also a kind of insurance that you must buy when you join the insurance. Specific social security contains: pension insurance, medical insurance, maternity insurance, unemployment insurance and work injury insurance.

The concept of social insurance and pension insurance shows that pension insurance is one of the five major types of social insurance, and is not equal to social security. Social security is more extensive than pension insurance in terms of coverage, but to some extent it can also be considered that taking out social insurance is equivalent to taking out pension insurance as well.

Social security, or social insurance, is a social and economic system that provides income or compensation to a population that is incapacitated, temporarily out of work, or has suffered a loss due to health reasons. The social insurance scheme is organized by the government, which forces a certain group of people to pay a part of their income as social insurance tax to form a social insurance fund, and the insured can get a fixed income or compensation for loss from the fund if certain conditions are met, it is a redistributive system, and its goal is to ensure the reproduction of material and labor force and the stability of the society. Social security is what we often refer to as social insurance, five insurance, the main items of social insurance include five categories: pension insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

Pension insurance is an important part of the social security system, and is one of the most important of the five major types of social insurance. Pension insurance or old-age insurance system is a social insurance system established by the state and the society according to certain laws and regulations to solve the basic livelihood of workers after they reach the working age limit stipulated by the state for the termination of their labor obligations, or withdraw from the workforce due to loss of labor capacity in old age.

Legal Basis

The Social Insurance Law of the People's Republic of China

Article 2: The State establishes a social insurance system for basic old-age pension insurance, basic medical insurance, industrial injury insurance, unemployment insurance, maternity insurance and other social insurance systems to safeguard the right of citizens to obtain material assistance from the State and society in accordance with the law in the event of old age, sickness, industrial injury, unemployment and childbirth. society in the event of old age, sickness, industrial injury, unemployment or maternity, in accordance with the law.