First, it is imposed by national law. Businesses and individuals must participate. Those who meet the pension conditions can receive a pension from the social insurance service.

There are three models for implementing pension insurance systems in countries around the world

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

List some advantages of the America's pension system

​Social pension fund refers to the special fund reserved for the establishment, maintenance and development of old-age insurance, mainly used for the basic life of the elderly after withdrawal from labor market. Social pension fund belongs to the special fund, which has its own characteristics.

What's new in the 2019 version of the 401 (K) pension plan

The 401(k)-retirement benefit plan is a deferred taxation pension account plan created by the United States in 1981. The United States government has specified the relevant provisions in Article 401(k) of the National Tax Law, so it is referred to as 401(k) plan. There are many types of retirement plans in the United States. Like civil servants, university employees provide pensions in accordance with their laws, and 401(k) is used only as employees of private companies.