Are social security and endowment insurance the same thing?

Social security is different from endowment insurance. Social security refers to five kinds of insurance: endowment insurance, medical insurance, maternity insurance, unemployment insurance and industrial injury insurance, which is the abbreviation of social insurance. Endowment insurance refers to the social insurance established by the state and society according to laws and regulations to solve the problem that workers reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age.

Legal basis: Social Insurance Law II

The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.

One-sixteenth

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of 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.