Interpretation of the implementation rules of social insurance law

Ministry of Human Resources and Social Security began to solicit public opinions on the Detailed Rules for the Implementation of the Social Insurance Law of People's Republic of China (PRC). The draft stipulates the treatment of people whose basic contributions are less than 15 years, and makes it clear that the personal account balance of basic old-age insurance can be inherited.

The Social Insurance Law will come into force on July 20 1 year 1 day. The draft makes it clear that if an individual who participates in the basic old-age insurance for employees dies, the balance in the individual account can be fully inherited.

"People's Republic of China (PRC) Social Insurance Law" (hereinafter referred to as the Social Insurance Law), these Provisions are formulated.

The first chapter is the basic endowment insurance.

Article 1 The overall pension stipulated in Article 15 of the Social Insurance Law shall be calculated and paid according to the basic pension calculation and payment method stipulated by the State Council.

Article 2 When an individual who participates in the basic old-age insurance for employees reaches the statutory retirement age, if the accumulated payment is less than fifteen years, the payment may be extended to fifteen years. After the implementation of the Social Insurance Law, if the payment is extended for five years but still less than fifteen years, it can be paid in one lump sum for fifteen years.

Article 3 Individuals who participate in the basic old-age insurance for employees who have paid less than 15 years after reaching the statutory retirement age (including extending the payment in accordance with Article 2) may apply for transfer to the new rural social endowment insurance or urban residents' social endowment insurance where their household registration is located, and enjoy the corresponding old-age insurance benefits.

Individuals who participate in the basic old-age insurance for employees reach the statutory retirement age, and the accumulated payment is less than 15 years (including the extension of payment in accordance with the provisions of Article 2), and have not been transferred to the new rural social endowment insurance or urban residents' social endowment insurance, individuals can apply in writing to terminate the basic old-age insurance relationship for employees.

Article 4 If individuals who participate in the basic old-age insurance for employees are employed across provinces, and the accumulated payment is less than 15 years when they reach the statutory retirement age, they shall continue to pay the fees according to the provisions of the Notice of the General Office of the State Council on Forwarding the Interim Measures for the Transfer and Continuation of the Basic Old-age Insurance for Employees in Urban Enterprises in Ministry of Human Resources and Social Security (Guo Ban Fa [2009] No.66).

Article 5 If individuals participating in the basic old-age insurance for employees are employed across provinces and meet the requirements of receiving the basic old-age pension on a monthly basis, the specific measures for the calculation and unified payment of the basic old-age pension shall be implemented in accordance with the Notice of the General Office of the State Council on Forwarding the Interim Measures for the Transfer and Continuation of the Basic Old-age Insurance for Employees of Urban Enterprises in Ministry of Human Resources and Social Security (Guo Ban Fa [2009] No.66).

Article 6 Individual accounts of employees' basic old-age insurance shall not be withdrawn in advance. Individuals who leave the country to settle down before reaching the legal conditions for receiving the basic pension shall keep their personal accounts and enjoy the corresponding pension insurance benefits in accordance with state regulations when reaching the legal conditions for receiving the basic pension.