Is it necessary to pay old-age insurance after paying social security?

Legal analysis: No, social security includes endowment insurance. Under normal circumstances, you only need to pay a pension insurance. After the pension insurance payment reaches 15, employees can receive pension insurance on a monthly basis after retirement. In addition to providing old-age security, social security also includes medical security, maternity security, unemployment security and industrial injury security. At present, the calculation method of pension is that the average monthly salary of local employees at the end of last year is multiplied by a certain proportion+savings in my account divided by the coefficient.

Legal basis: Article 72 of the Labor Law of People's Republic of China (PRC) determines the sources of social insurance funds according to the types of insurance, and gradually implements social overall planning. Employers and workers must participate in social insurance and pay social insurance premiums according to law.

Article 11 of the Social Insurance Law of People's Republic of China (PRC) * * * The basic old-age insurance shall combine social pooling with individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.