Endowment insurance 101（1）

Endowment insurance, the full name of basic social pension insurance, is the basic state and society in accordance with certain laws and regulations, in order to resolve the working age limit for workers to reach l 'State to release from work obligations, or after leaving the workplace due to disability due to old age A social insurance system established by life.

Pension insurance is an important part of the social security system and one of the most important types of social insurance. The purpose of pension insurance is to protect the basic needs of the elderly and provide them with a stable and reliable source of life.

Basic definition edition

Staffing insurance is the State's solution in accordance with the laws and regulations in force

The working age limit of work obligations or a social insurance system established after leaving the workplace due to an incapacity due to old age to ensure their basic life. The aim is to use social insurance as a means of protecting the basic needs of the elderly and providing them with a stable and reliable source of life.

Endowment insurance does not automatically come into play until the elderly have "completely" or "essentially" retired from the professional life of society within the legal framework. The so-called "completeness" is characterized by the separation of workers from the means of production, the so-called "basic" means that participation in production activities has not become the main content of social life. Among them, the legal age limit is the practical measure.

At the same time, the insured can only meet the following two conditions, namely: meet the retirement conditions prescribed by the State and have followed the relevant procedures; if the accumulated basic pension insurance premium has been paid for 15 years, the month following the approval of the occupational safety administration Receive monthly basic pensions and funeral grants.

Basic old-age insurance premiums are paid jointly by the company and the insured at different rates

Basic function

Staffing insurance is based on the security of the livelihoods of the elderly. An insurance fund is created by redistribution or savings to cover the living expenses of the elderly. Its implementation has the following effects:

Facilitate the reproduction of work

Thanks to the establishment of the pension insurance system, it is conducive to the normal intergenerational replacement of the active population, the retirement of the elderly and the good employment of the newly developed active population, and the rationalization of the employment structure.

Promotes social security and stability

Pension insurance provides basic life security for the elderly, so that the elderly can be taken care of. With the arrival of the aging population, the proportion of elderly people increases and the number of people also increases. Pension insurance guarantees the basic life of older workers, which is equivalent to the basic life of a considerable part of society. For workers, participating in pension insurance means that they have expectations for the life of the elderly in the future, eliminating the worries of the future. From the social mentality, people are more stable and less impetuous, which is beneficial for the stable social.

Promotes economic development

The design of pension insurance systems in various countries mainly combines equity with efficiency, in particular the model of partial and total increase in pensions. The amount of pensions received by workers after retirement is directly linked to their wage income and their contributions during working hours, which can undoubtedly encourage workers to work actively during their work and to improve their efficiency.

In addition, due to the wide range of pension insurance concerned and the large number of participants, a large number of pension insurance funds can be raised during its operation, which can provide a huge source of funds for the market. capital, especially the funded pension insurance model, funds in personal accounts Accumulation has been calculated for decades, which widens the pension insurance fund and provides more funds for the market. Thanks to the large-scale exploitation and use of funds, it promotes the country's macro-control over the national economy.