Is the endowment insurance paid by yourself the same as that paid by the company?

Similarly, social endowment insurance, the full name of social endowment insurance, consists of basic pension paid by social pooling fund and personal account pension. It is an important part of the social security system and one of the five most important social insurances. It is a kind of social insurance established by the state and society according to certain laws and regulations to solve the working age limit stipulated by the state when workers terminate their labor obligations, or the basic life after quitting their jobs because of old age.

The differences between individual pension insurance and company pension insurance are as follows:

1. The payment ratio is different. If there is a unit, the unit pays 12% and the individual pays 8%, making a total of 20%. If the individual pays, the payment ratio is 20%.

2. If you pay by yourself, you should bring your ID card, household registration book and endowment insurance manual to the local labor bureau where your household registration belongs for retirement.

3. Endowment insurance is divided into overall account and individual account.

If there is a unit, the part paid by the unit will enter the overall account, and the part paid by the individual will enter the personal account. If you pay by yourself, 40% of the total payment will go into the personal account, and the remaining 60% will go into the overall account, which is equivalent to bearing the payment of some units.

4. It is compulsory for the unit to pay endowment insurance. As long as you work in the company, the company will pay you, otherwise you will be punished. It is voluntary for individuals to pay endowment insurance. If you think social security is more important, you can pay the monthly fee, you can pay it yourself or you can choose not to pay it.

5. Self-funded pension insurance is generally urban and rural residents' pension insurance, flexible employment pension insurance or commercial pension insurance; The old-age insurance paid by companies is generally the basic old-age insurance for urban employees, and some companies will also pay supplementary old-age insurance for employees.

Legal basis:

"Social Insurance Law of People's Republic of China (PRC)" Article 16 Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid for fifteen years at the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.

labour law

Article 72 The sources of social insurance funds shall be determined according to the types of insurance, and social pooling shall be gradually implemented. Employers and workers must participate in social insurance and pay social insurance premiums according to law.

Social insurance law

Article 58 An employing unit shall, within 30 days from the date of employment, apply to the social insurance agency for social insurance registration for its employees. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay. Employees-free individual industrial and commercial households who voluntarily participate in social insurance, part-time employees who do not participate in social insurance in the employing unit and other flexible employees shall apply to the social insurance agency for social insurance registration. The state establishes a national unified personal social security number. Personal social security number is a citizen's identity number.