What should I do after the buyout?

I am a professional in labor law. I hope you can be satisfied with my explanation.

First of all, buyout is actually stipulated by law. Because the actual legal basis of buyout is the stipulation that the employer unilaterally terminates labor relations. According to the relevant provisions of the Labor Law, the employing unit shall pay economic compensation to the laborer when it unilaterally terminates the labor relationship. The standard of economic compensation should be paid every 1 year 1 month of work.

Therefore, after the unit unilaterally terminates the labor relationship with you, the unit needs to transfer your file and the insurance originally paid to you within 15 days. After the company transfers insurance to you, if you reach the statutory retirement status (because I don't know whether there are toxic and harmful contents in your textile industry, and the statutory retirement age is different in different industries), you can enjoy retirement benefits. You can receive old-age insurance premiums on a monthly basis.

Those who have not reached the statutory retirement age should continue to pay social insurance by themselves, and they can enjoy social endowment insurance after exceeding the statutory retirement age.