When will the occupational annuity be collected? Can I get the occupational annuity in one lump sum?

When will the occupational annuity be collected? Can I pay in one lump sum?

Now regular work units will pay social security, including endowment insurance, so that users can receive pensions to maintain their lives after retirement. And occupational annuities. When will the occupational annuity be collected? Can I pay in one lump sum?

We can regard occupational annuity as supplementary insurance for old-age insurance. Occupational annuity is a supplementary system of old-age insurance established by staff of public institutions in addition to paying basic old-age insurance. The payment object of occupational annuity is the staff of public institutions, and enterprise employees can only pay enterprise annuity.

After paying the occupational annuity, the depositor reaches the legal retirement age in China, and men can receive the annuity when they reach 60 years old and women reach 55 years old. There are three ways to collect annuities, including one-time collection.

1. When the depositor reaches the legal retirement age and formally goes through the retirement formalities, he can start to receive the occupational annuity, which is similar to the old-age insurance. When we hear that someone can receive a pension of several thousand yuan a month after retirement, in addition to pension insurance, it may also include occupational annuity.

2. If the insured person has settled abroad and gone through immigration formalities, he can withdraw all the money in the occupational annuity account at one time after formal retirement.

3. If the insured dies before reaching the legal retirement age in China, the balance in his occupational annuity account can be inherited by the legal heir according to law. If you die after retirement, you can withdraw all the balance in the occupational annuity account at one time.

Only at the following three time points can you receive the occupational annuity. The balance in the occupational annuity account is calculated with interest and continues once a year. Users who meet the requirements for receiving occupational annuity can receive it at the institution handled by the unit, and they cannot change it after choosing any collection method. The payment time of occupational annuity will be paid according to the corresponding calculation month until the balance of annuity account is paid.