What's the difference between paying social security and paying five insurances?

The difference between paying social security and paying five insurances is as follows:

1. Different concepts: social security refers to a kind of social insurance established by the state and society in accordance with laws and regulations to solve the basic livelihood of workers after they reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age. Five insurances refer to five types of insurance: endowment insurance, medical insurance, maternity insurance, unemployment insurance and industrial injury insurance.

2. Different contents: Although social security includes the concept of five insurances, it is not limited to five insurances. Five insurances are only one of the five types of social insurance. The old-age insurance in the five insurances is only a kind of social insurance, which only provides old-age security. If you only pay one-off pension insurance, it does not include medical insurance.

3. Different purposes: The main purpose of social security is to ensure the basic life after old age, provide medical security, and ensure the basic life during unemployment and work-related injuries. The main purpose of endowment insurance in the five insurances is to ensure that employees can have a stable source of livelihood after reaching the statutory retirement age.

The advantages of five risks are as follows:

1 Comprehensive protection: The five insurances include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance, covering all kinds of risks that may be encountered in life and providing comprehensive protection.

2. Reduce personal burden: by paying five insurances, reduce personal financial burden in pension, medical care, unemployment, work injury and maternity, and avoid life difficulties caused by emergencies.

3. Promote social equity: the payment and enjoyment of the five insurances have nothing to do with personal income and contribution, which embodies the principle of social equity and helps to narrow the gap between the rich and the poor in society.

4. Maintaining social stability: By paying five insurances, we can reduce social contradictions and unstable factors caused by old-age care and medical care and maintain social stability.

To sum up, the difference between paying social security and paying five insurances lies in the difference in concept, content and purpose. Social security is a broader social security system, and five insurances are a special form.

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.