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What is the impact of the Beijing account social security payment break
If you have the intention to buy a house with a provident fund, the social security payment is broken then you will not be able to get a provident fund loan, relative to a big city like Beijing, there will be pressure.
Legal Objective:The People's Republic of China **** and the State Social Insurance Law, Article 16 Participating in the basic pension insurance individuals, to reach the legal retirement age when the cumulative contributions of fifteen years, the monthly basic pension. Individuals who have participated in basic old-age insurance and have contributed for less than fifteen years by the time they reach the statutory retirement age may contribute until they reach the full fifteenth year and receive a basic pension on a monthly basis; they may also be transferred to the new type of rural social old-age insurance or to the social old-age insurance for urban residents, and shall enjoy the corresponding old-age insurance benefits in accordance with the provisions of the State Council. Article 27 of the Law of the People's Republic of China on Social Insurance Article 27 Individuals participating in basic medical insurance for employees who have paid contributions for a total of up to a specified number of years by the state when they reach the legal retirement age shall no longer pay basic medical insurance premiums after their retirement and shall enjoy basic medical insurance in accordance with the provisions of the State Council; and those who have not yet reached the specified number of years by the state may pay contributions for a total of up to the specified number of years by the State Council.
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