Guangdong specializes in medical insurance only, what is the meaning of the basic pension insurance

Guangdong specialized inserted only medical insurance, basic pension insurance is the state in accordance with the provisions of laws and regulations, the mandatory establishment and implementation of a social insurance system. According to the query related public information shows in this system, the employer and the workers must pay the pension insurance premiums according to the law, after the workers reach the retirement age stipulated by the state or withdraw from the labor position due to other reasons, the social insurance agency pays the pension and other treatments according to the law, so as to guarantee the basic life of the workers.