The difference between basic endowment insurance for enterprise employees and endowment insurance for urban and rural residents.

The difference between the basic old-age insurance and the old-age insurance for urban and rural residents lies in:

1. The age requirements for enjoying retirement pension are different, and the basic old-age insurance requires people who have reached the national legal retirement age to receive pension.

2. The main contributors of the basic old-age insurance are employees and flexible employees. The main contributors to the endowment insurance for urban and rural residents are farmers and urban non-employees.

3. The payment methods are different. The basic old-age insurance is generally paid monthly, and the old-age insurance for urban and rural residents is paid annually.

Payment process of basic old-age insurance for enterprise employees:

The employees of the enterprise shall pay the basic old-age insurance premium jointly by the employer and the employees; Those who are not employed by the employer can pay the basic old-age insurance premium as flexible employees. The basic old-age insurance premium is paid by enterprises and insured persons according to different payment ratios, and policies vary from place to place. Units generally pay 20% and individuals pay 8%.

Payment process of endowment insurance for urban and rural residents:

The parties should participate in the endowment insurance for urban and rural residents, register for social security, then open an account in a designated bank, and pay the fees into the bank card every month. Individuals can pay the old-age insurance premium according to different standards such as 100 yuan per year, 200 yuan, 300 yuan, 400 yuan and 500 yuan.

legal ground

People's Republic of China (PRC) social insurance law

Sixteenth individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.

Twenty-seventh individuals who participate in the basic medical insurance for employees, when they reach the statutory retirement age, will no longer pay the basic medical insurance premium after retirement and enjoy the basic medical insurance benefits in accordance with state regulations; Those who have not reached the fixed number of years prescribed by the state may pay the fees to the fixed number of years prescribed by the state.