Is there a pension after retirement without security?

Yes, the pension is provided by the state according to the social insurance system after the workers are old or lose their ability to work;

According to the contribution to the society and the qualification or retirement conditions for enjoying the old-age insurance, the monthly or one-time insurance benefits paid in the form of money are mainly used to protect the basic needs of employees after retirement.

The full name of old-age insurance is social basic old-age insurance, which is to solve the working age limit for workers to relieve their labor obligations according to certain laws and regulations. Or it is a social insurance system established for the basic life after retiring from work due to old age.

People's Republic of China (PRC) social insurance law

Tenth employees should participate in the basic old-age insurance, and employers and employees should pay the basic old-age insurance premium. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.

Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premium should be paid by the government during the payment period. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.

Article 14 Individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.

Fifteenth basic pension consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

Sixteenth individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for fifteen years when they reach the statutory retirement age. Individuals who participate in the basic old-age insurance can pay less than 15 years when they reach the statutory retirement age. You can receive the basic pension on a monthly basis and transfer it to the new rural social endowment insurance or urban residents' social endowment insurance, and enjoy the corresponding pension insurance benefits according to the regulations of the State Council.

Article 17 If an individual who participates in the basic old-age insurance dies due to illness or non-work-related, his survivors can receive funeral subsidies and pensions. Persons who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance. The required funds are paid from the basic old-age insurance fund.

Article 18 The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.

Nineteenth individuals across the overall regional employment, the basic old-age insurance relationship with my transfer, the cumulative payment period. When an individual reaches the statutory retirement age, the basic pension is calculated in stages and distributed uniformly. Specific measures shall be formulated by the State Council.

Article 20 The state establishes and improves a new rural social endowment insurance system. The new rural social endowment insurance combines individual contributions, collective subsidies and government subsidies.

Twenty-first new rural social endowment insurance benefits are composed of basic pension and personal account pension. Rural residents who participate in the new rural social endowment insurance meet the conditions stipulated by the state and receive the benefits of the new rural social endowment insurance on a monthly basis.

Article 22 The State shall establish and improve the social endowment insurance system for urban residents. The people's governments of provinces, autonomous regions and municipalities directly under the Central Government may, according to the actual situation, combine the social endowment insurance for urban residents with the new rural social endowment insurance.