Endowment insurance is an important part of the social security system and one of the most important types of insurance among the five types of social insurance. The purpose of endowment insurance is to guarantee the basic living needs of the elderly and provide them with a stable and reliable source of life.
Classification of pension insurance
Source: Compiled by Zhiyan Consulting
1. Overview of Pension Insurance Development
With the aggravation of the aging society in our country, in order to ensure the basic life of the elderly population, the number of pension insurance participants in our country is increasing year by year. As of the end of 2021, the number of people participating in the basic pension insurance for urban employees in my country is 480.75 million, an increase of 24.37 million over the previous year, a year-on-year increase of 5.34%.
2016-2021 National Urban Employee Basic Pension Insurance Participation Number and Growth Rate
Source: Compiled by the Ministry of Human Resources and Social Security and Zhiyan Consulting
The rapid growth of my country's pension insurance fund income has laid a solid guarantee for the stable payment of pensions for retired elderly. By the end of 2021, my country's urban workers