Are social security and pension the same thing?

Social security and pension are not the same thing.

Pension is a form of old-age insurance, which is a regular payment calculated according to the social insurance premiums paid by workers and relevant laws and regulations after workers reach the legal retirement age. Social security is the abbreviation of social insurance, including endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. Pension mainly refers to endowment insurance, while social security covers a wider range of social security. In short, pension is a part of social security, which is specially used to protect the life after retirement, and social security is a bigger concept, which aims to cover people's basic security needs when facing various social risks.

Benefits of social security:

1, comprehensiveness of social security: social security includes not only endowment insurance, but also medical insurance, unemployment insurance, work injury insurance and maternity insurance, providing comprehensive social security for individuals;

2. Relieve economic pressure: Social security can provide economic help when an individual is sick, unemployed or retired, and alleviate the economic pressure brought about by life changes;

3. Improve the quality of life: As a part of old-age insurance, retirement pension ensures a stable source of income after retirement and improves the quality of retirement life;

4. Promote social stability: The social security system can alleviate social contradictions, maintain social stability and provide basic living security for social members.

To sum up, social security and pension are not the same thing. Pension is a form of endowment insurance, and social security is a bigger concept, including pension, medical care, unemployment, work injury and maternity insurance. The benefits of social security lie in providing comprehensive social security, reducing economic pressure, improving the quality of life and promoting social stability.

Legal basis:

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

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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 get material help from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.