What does social security for residents mean?

Social security for residents is mainly aimed at unemployed people or freelancers with local household registration. Residents' social security can only pay endowment insurance and medical insurance, and other types of insurance cannot be paid. Paying residents' social security requires paying their own premiums in full, and the first condition for paying residents' social security is to have a local household registration, so the threshold is relatively high. Employee social security is the five insurances and one gold paid by enterprises and employees after our most common employees work in enterprises, including endowment insurance, medical insurance, maternity insurance, work injury insurance and so on.

Social endowment insurance for urban residents is an endowment insurance system covering non-employees with urban household registration. This system, together with the urban workers' endowment insurance system and the new rural social endowment insurance system, constitutes the social endowment insurance system in China. Urban residence insurance has two outstanding characteristics: first, the source of funds for urban residence insurance is not only individual contributions, but also government subsidies for the insured. The more individual contributions, the more government subsidies, and all individual contributions and government subsidies are included in the insured's personal account. Second, the pension of urban residential insurance consists of two parts: personal account pension and basic pension. The level of personal account pension is determined by the amount of account storage, that is, the total amount of individual contributions and government subsidies; The basic pension is paid in full by the government.

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 to protect citizens' right to get material help from the state and society in the event of old age, illness, industrial injury, unemployment and maternity.

Article 7 The administrative department of social insurance in the State Council is responsible for the management of social insurance throughout the country, and other relevant departments in the State Council are responsible for the relevant social insurance work within their respective functions and duties.

The social insurance administrative department of the local people's government at or above the county level shall be responsible for the social insurance management within its administrative area, and other relevant departments of the local people's government at or above the county level shall be responsible for the relevant social insurance work within their respective functions and duties.

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.