Insurance Blog

  China is a developing country, the economy has developed, in order to play old-age insurance to protect both life and the role of social stability, but also to adapt to the needs of different economic conditions, in order to facilitate the improvement of labor productivity. To this end, China's pension insurance consists of three parts. The first part is the basic old-age insurance, the second part is the enterprise supplementary old-age insurance, the third part is the personal savings of old-age insurance.

        The emergence and development of old-age insurance is associated with the country's political, economic and socio-cultural closely together, and it is the product of large-scale socialized production, but also a symbol of social progress. At present, the world's countries to implement the pension insurance system can be divided into three types, namely, insurance-type financing (also known as traditional) pension insurance, compulsory savings-type pension insurance (also known as Provident Fund model) and the National Co-ordination-type old-age insurance. In addition, China according to China's specific national conditions, creatively implemented the "social pooling and individual accounts combined," the basic old-age insurance reform model, after five years of exploration and improvement, has been gradually becoming more mature. As time goes on, this model will become the old-age insurance in the world are increasingly influential in the history of the development of the basic types.