When will the social endowment insurance be paid?

In China, the old-age insurance is paid after 1996, and the work before 1996 is regarded as automatic payment, and the length of service is automatically calculated.

The full name of endowment insurance is social basic endowment insurance, which is a social insurance system established by the state and society according to certain laws and regulations to solve the basic life of workers who reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age.

Endowment insurance is an important part of social security system and one of the five most important social insurances. The purpose of endowment insurance is to protect the basic needs of the elderly and provide them with a stable and reliable source of life. The endowment insurance in China consists of four levels. The first level is basic old-age insurance, the second level is enterprise supplementary old-age insurance, the third level is personal savings old-age insurance, and the fourth level is commercial old-age insurance. In this multi-level old-age insurance system, the basic old-age insurance is the first and highest level.

The basic old-age insurance is a social insurance system established by the state and society in accordance with certain laws and regulations to solve the basic life of workers who terminate their labor obligations after reaching the national working age limit or quit their jobs because of old age.

The basic old-age insurance is based on the principle of ensuring the basic livelihood of retirees, and it is mandatory, mutually beneficial and social. Mandatory in the national legislation and law enforcement, enterprises and individuals must participate, and shall not violate; Mutual assistance is reflected in the source of endowment insurance expenses, which are generally shared by the state, enterprises and individuals, and are used and paid uniformly, so that employees of enterprises can get living security and realize extensive social mutual assistance; Sociality is reflected in the great influence of endowment insurance, the large number of people enjoying it for a long time and the huge cost.

Pension insurance standard:

1, payment grade, five old-age insurance premium standards, 60% grade yuan per year, 80% grade yuan per year, 100% grade yuan per year,10% grade per year, and 120% grade per year, this

2, one-time payment, within the statutory time, the earlier the individual payment arrives, the more interest the account generates, the more personal accounts are stored, and the higher the pension level, so pay social security as soon as possible. Calculate interest on the amount stored in personal account in time to ensure that pension benefits are irrelevant;

3. Payment period, increase the proportion of basic pension and increase the transition coefficient of transitional pension;

4. Insurance time: Within 30 days from the date of the establishment of labor relations, the employer shall handle social insurance procedures for employees;

5. Payment is interrupted. If the individual insured person interrupts the payment for more than 3 years, the premium shall be paid according to the "double base". If the interruption is less than 3 years, it can be paid according to the original standard over the years. The longer the interruption of payment, the more premiums need to be paid.

To sum up, individuals who participate in the basic old-age insurance will receive the basic pension on a monthly basis if they reach the statutory retirement age and have paid for 15 years.

legal ground

Article 10 of People's Republic of China (PRC) Social Insurance Law

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly 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.