Beijing: When retirement pension contributions are less than 15 years, contributions can be extended


2022-08-09: [Chinese Article Link If you have reached the legal retirement age and have contributed to the pension insurance for 15 years, you can receive a monthly pension. The relevant head of the Human Resources and Social Security Board of Beijing City stated that, in accordance with the Implementation of certain provisions of the Law of the People's Republic of China on Social Insurance, a person who is a participant in the basic pension insurance of an employee who has reached the legal retirement age and who has paid contributions for less than 15 years may pay contributions in aggregate up to the age of 15 years, and that a lump sum contribution may be paid up to the age of 15 years after five years before the application of the Social Insurance Law (30 June 2011). What can be done if the insured does not wish to extend the basic pension insurance for their employees, in which case they can apply for transfer to the basic pension insurance for urban and rural residents of the place of domicile and receive the corresponding pension insurance benefits? If there is a reluctance to extend contributions and transfer to pension insurance for urban and rural residents, the individual may apply in writing for termination of the employee's basic pension insurance relationship, and if the relationship is terminated, without fear of having to pay the previous payment for nothing, the individual's account will be paid in one lump sum. There are also a number of cases in which, at the age of 40 or 50, old-age insurance contributions are already 15 years old, but after leaving the unit for reasons such as family care, self-employment, etc., no longer participate in social security. There will also be questions: “Can I still get a pension in the future?” Of course. But it is important to note that an old-age pension is not payable from the time the contributions are suspended, but only when they reach the legal retirement age. For example, a male pensioner who quits at the age of 55 and who has paid the old-age pension for 28 years has to reach the legal retirement age of 60 before he can receive the old-age pension. It should be recalled that the basic old-age pension insurance in our country is governed by a system of incentives to pay more and more, and that the higher the contribution level and the longer the contribution period, the more pensions will be paid in the future. Source: Beijing daily client, journalist DeLilly That's a great video.


Note: This is a machine translated version of the Chinese news media article. A mature and nuanced reading is suggested.




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Beijing: When retirement pension contributions are less than 15 years, contributions can be extended


2022-08-09: [Article Link If you have reached the legal retirement age and have contributed to the pension insurance for 15 years, you can receive a monthly pension. The relevant head of the Human Resources and Social Security Board of Beijing City stated that, in accordance with the Implementation of certain provisions of the Law of the People's Republic of China on Social Insurance, a person who is a participant in the basic pension insurance of an employee who has reached the legal retirement age and who has paid contributions for less than 15 years may pay contributions in aggregate up to the age of 15 years, and that a lump sum contribution may be paid up to the age of 15 years after five years before the application of the Social Insurance Law (30 June 2011). What can be done if the insured does not wish to extend the basic pension insurance for their employees, in which case they can apply for transfer to the basic pension insurance for urban and rural residents of the place of domicile and receive the corresponding pension insurance benefits? If there is a reluctance to extend contributions and transfer to pension insurance for urban and rural residents, the individual may apply in writing for termination of the employee's basic pension insurance relationship, and if the relationship is terminated, without fear of having to pay the previous payment for nothing, the individual's account will be paid in one lump sum. There are also a number of cases in which, at the age of 40 or 50, old-age insurance contributions are already 15 years old, but after leaving the unit for reasons such as family care, self-employment, etc., no longer participate in social security. There will also be questions: “Can I still get a pension in the future?” Of course. But it is important to note that an old-age pension is not payable from the time the contributions are suspended, but only when they reach the legal retirement age. For example, a male pensioner who quits at the age of 55 and who has paid the old-age pension for 28 years has to reach the legal retirement age of 60 before he can receive the old-age pension. It should be recalled that the basic old-age pension insurance in our country is governed by a system of incentives to pay more and more, and that the higher the contribution level and the longer the contribution period, the more pensions will be paid in the future. Source: Beijing daily client, journalist DeLilly That's a great video.

Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.

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