Is it worth buying social security at 50?

Legal analysis: As a 50-year-old person, he has never participated in the basic old-age insurance. It is actually late to establish employee old-age insurance now, because this employee old-age insurance needs to be paid for more than 15 years before he can retire and enjoy the benefits of this pension. So he began to pay this basic old-age insurance at the age of 50, which means he can only retire at the age of 65 and enjoy this basic pension. In this case, it is recommended not to participate in employee pension insurance, because employee pension insurance can not be paid in one lump sum before retirement, and the accumulated payment period can not be completed. If the cumulative payment period does not reach the15th anniversary before the statutory retirement age, then you can only choose to postpone retirement and pay the contributions year by year, and you can only retire and enjoy the pension benefits until your accumulated pension insurance reaches the15th anniversary, so obviously you have to wait until the15th anniversary.

Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC). Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.