Is social security personal purchase a loss or a profit?

Whether a social security individual buys a loss or earns depends on the following points:

1. Compared with the endowment insurance for urban workers, it is obviously not cost-effective for individuals to pay social security;

2. Endowment insurance for flexible employees refers to an insurance strategy. For those who have no fixed job, unemployment or re-employment, such people are flexible employees;

3. For this kind of people's old-age security, the government introduced and implemented a flexible employee old-age insurance policy.

4. Flexible employees have different payment years, different payment grades and different collection standards;

5. If the payment is over 15 years, the monthly basic pension is the basic pension plus the personal account pension;

6. The basic pension is calculated by multiplying the average monthly salary of local employees in the previous year by 20 when they retire; Personal account pension is the amount stored in personal account divided by 120.

The functions of social insurance are as follows:

1, social insurance can play the role of social stabilizer. The old, weak, sick, disabled, pregnant and disabled members of society are inevitable objective phenomena in any era and under any social system. Social insurance is to give appropriate compensation to members of society when they encounter this situation, to ensure their basic living standards and to prevent the emergence of unstable factors;

2. Social insurance is conducive to ensuring the smooth reproduction of social labor. Laborers will inevitably encounter all kinds of accidents in the process of labor, resulting in the pause of labor reproduction. Social insurance is to give necessary economic compensation and living security when workers encounter the above-mentioned risk accidents, so that the labor force can be restored;

3. Social insurance is beneficial to social equity. Due to the difference of people's education level and labor ability, the income gap will be caused. Social insurance can collect insurance funds through compulsory collection of insurance premiums, subsidize low-income workers or those who have lost their sources of livelihood, improve their living standards, and achieve fair distribution of society to a certain extent;

4. Social insurance is conducive to promoting social progress. Insurance has the characteristics of mutual assistance, and social insurance can better reflect the spirit of mutual assistance and cooperation.

To sum up, it is beneficial to buy social security, which can provide basic pension, medical care, work injury, maternity and unemployment protection for yourself and your family, and can also play a role in economic support when necessary. Before purchasing social security, you need to carefully understand the local social security policies and relevant regulations, abide by the payment standards and payment time, and handle social security benefits in time.

Legal basis:

Article 2 of People's Republic of China (PRC) Social Insurance Law

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.