What does social security pension insurance mean

Basic pension insurance is a social security system mandated by national legislation. Its purpose is to ensure that workers receive material help from the state and society to safeguard their basic living needs after retirement in old age. It is a compulsory, public welfare, non-profit social insurance.

Social security is the abbreviation of social insurance, while including pension insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance. The difference between social security and pension insurance is that pension insurance is one of the social security.

Social co-ordination is the unified planning of the collection, management and use of the pension fund within a certain scope. Each region is responsible for the balance of its own pension fund, with the balance mainly going to the region for its own use and disposal, and the shortfall generally having to be filled by the local government and its own finances.

Pension insurance in general terms means that individuals who have paid 15 years of contributions can get a pension, while those who have paid for employee pension insurance can receive it after formal retirement, and those who have bought universal pension insurance can receive it only after they reach the age of 60.

Social insurance is a national compulsory insurance, any unit or individual must participate.

Article 72 of the Labor Law says, "The social insurance fund shall determine its source of funding according to the type of insurance and shall gradually implement social coordination. Employers and workers must participate in social insurance and pay social insurance premiums in accordance with the law." It is illegal for employers to fail to pay social insurance for workers in accordance with state regulations, and the direct consequence of this is that the lawful rights and interests of workers are infringed upon.

Difference:

One is the basic attributes of different:

The former is the administrative mandatory social security, is the nature of social welfare; the latter is a financial enterprise's business activities, insurance out of the voluntary insurance institutions for profit, it and the insured is the relationship between the equivalent of the exchange;

The second is the different objects and roles:

The former object is social workers and their families, is the object of their own. The former is the social workers and their families, is their life, old age, disease, disability, injury and unemployment when the basic livelihood security; the latter to any person's life and body, property as the object, differentiation between the different stages of life, different parts of the body and property may be the occurrence of different accidents for insurance, in order to obtain a certain amount of financial compensation when the event occurs;

Third is the right and obligation to reciprocate the relationship between different:

The former is the right and obligation to reciprocate the relationship between different:

The former is the right and obligation to reciprocate the relationship between different:

The former insurance premiums mainly come from the accumulation of the fruits of the labor of the workers at work, the workers to carry out social workers, contribute to society, and a small amount of social insurance premiums, pro-acquisition of the right to enjoy social insurance treatment, where the establishment of the relationship between rights and obligations; the latter premiums come from personal income (including income from property), the amount of the amount of money depends on the amount of money to be insured, the right and the obligation to be in the Money relationship on the equivalent;

Fourth, the scope of legislation is different:

The former belongs to the scope of social legislation; the latter is the scope of economic legislation; fifth, the management system is different. The former belongs to the administrative leadership system; the latter belongs to the financial system.

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