Insurance Blog

Old-age insurance is an important component of social security system, part of the five social insurance insurance insurance is one of the most important. The so-called old-age insurance (or old-age insurance system) is the state and society according to certain laws and regulations, to address the workers who meet the state labor obligations of working age limits, or loss of the ability to work due to old age out of work posts, the basic life to establish a social insurance system. This concept mainly contains the following three meanings:
(1) the statutory pension insurance is within the scope of Older persons are fully or largely out of the community working life happen automatically after the role. By “full”, is based on the means of production away from labor and characterized; so-called “basic”, referring to participate in production activities have not become major elements of social life. Be highlighted that the legal age limit (different countries have different standards) is a practical measure.
(2) The purpose of pension insurance is to protect the basic living needs of older persons by providing stable and reliable source of livelihood.
(3) old-age insurance is based on social insurance as a means to achieve security goals. Old-age insurance is more common around the world to implement a social security system. Generally have the following characteristics: ① by national legislation, imposing, business units and individuals must participate in line with the conditions of old age people can be made to Social Security pensioners; ② source of old-age insurance costs in general by the State, units and Personal tripartite or units and individuals of common burden, and to achieve a wide range of social mutual economic; ③ with the social old-age insurance, a great influence on the enjoyment of many people and a longer time, substantial cost, and must therefore be set up specialized agencies, the implementation of the modernization , specialization, socialization of unified planning and management.

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