Can young people not pay pensions?

Whether young people don't pay pensions depends on the actual situation.

In fact, when young people join an employer, they need to participate in and pay employee pension insurance in accordance with corresponding laws and regulations. However, if young people are freelancers and their employment is relatively flexible, it is a personal choice whether to participate in endowment insurance, even if they don't pay it.

Personal pension card processing process:

1. Apply for a personal pension card: you can apply for a personal pension card at your social security agency;

2. Identity authentication: Identity authentication requires an ID card, household registration book or other valid identification materials;

3. Pay social security fees: pay social security fees at the social security agency, and bind the personal pension card to the personal social security account after payment;

4. Bank account opening: handle personal savings accounts at banks such as China People's Bank, China Bank, China Construction Bank and China Agricultural Bank;

5. Bank card activation: After getting the personal pension card, you need to go to the bank to activate the card and set your personal password and withdrawal password;

6. Receive a pension: Before receiving a pension, you need to bind the personal pension card with the online personal social security account. When the pension payment date is up, you can go to the designated bank ATM or counter to receive the pension.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 10

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.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Article 11

The basic old-age insurance combines social pooling with individual accounts.

The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 15

The basic pension consists of overall pension and individual account pension.

The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.