What does social security supplementary endowment insurance mean?

Supplementary old-age insurance is an important part of social insurance based on basic old-age insurance, guided by government policies and preferential policies, jointly funded by employers and employees, characterized by capital accumulation and operational appreciation, and characterized by improving the old-age treatment of employees in funded units. Generally speaking, supplementary old-age insurance is a kind of non-mandatory old-age insurance to improve the old-age benefits of employees.

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

Article 2 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 in case of old age, illness, industrial injury, unemployment and maternity.

Article 3 The social insurance system adheres to the principles of wide coverage, basic protection, multi-level and sustainability, and the level of social insurance should be compatible with the level of economic and social development.

Article 4 Employers and individuals in People's Republic of China (PRC) shall pay social insurance premiums according to law, and have the right to inquire about payment records and personal rights and interests records, and ask social insurance agencies to provide social insurance consultation and other related services. Individuals enjoy social insurance benefits according to law and have the right to supervise the payment of their own units.