Differences between Urban and Rural Residents' Endowment Insurance and Social Security

Urban and rural residents' old-age insurance payment targets are generally rural residents, low-income households and young students with local accounts; Social security is paid by flexible employees, employees and individual industrial and commercial households.

(2) Different types of insurance

Endowment insurance for urban and rural residents refers to endowment insurance; Social security includes endowment insurance, medical insurance, industrial injury insurance, maternity insurance and unemployment insurance.

(3) Different payment methods.

The endowment insurance fee for urban and rural residents is fixed and paid in full by individuals; Social security is based on wages and paid in a certain proportion.

Legal basis: Article 2 of the Social Insurance Law. When individuals who participate in the basic old-age insurance for employees reach the statutory retirement age, if the accumulated payment is less than fifteen years, the payment may be extended to fifteen years. After the implementation of the Social Insurance Law, if the payment is extended for five years but still less than fifteen years, it can be paid in one lump sum for fifteen years.