Can I still pay old-age insurance after 60 years old?

According to the national insurance regulations, the elderly over 60 years old can't buy social security, and they can't participate in employee social security beyond the statutory retirement age (60 years old for men and 55 years old for women). Then if you are over 60 years old and reach the legal retirement age, you can only enjoy the residents' pension issued by the state finance.

Social insurance is an insurance guarantee that provides certain income or compensation to those who lose their ability to work, are temporarily unemployed or suffer losses due to health reasons.

What are the functions of endowment insurance?

1. Old-age insurance is conducive to the peace and stability of the whole society, promoting economic development and ensuring labor reproduction. By establishing endowment insurance,

This system is conducive to the normal intergenerational replacement of the labor force, the old people have a sense of security, the new labor force has a smooth employment, and the employment structure is guaranteed.

Rationalization;

2. Old-age insurance provides the minimum living guarantee for the elderly and makes them feel safe. Participating in old-age insurance represents the right to have a good old age.

After life is guaranteed, users are more stable and less impetuous, which is conducive to social stability;

To sum up, people over 60 can't buy employee pension insurance.

Legal basis:

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

Article 63

If the employer fails to pay social insurance premiums in full and on time, the social insurance premium collection agency shall order it to pay or make up within a time limit.

If the employer fails to pay or repay the social insurance premium within the time limit, the social insurance premium collection agency may inquire about its deposit account in banks and other financial institutions; And can apply to the relevant administrative departments at or above the county level to make a decision on the allocation of social insurance premiums, and notify their bank or other financial institutions in writing to allocate social insurance premiums. If the balance of the employer's account is less than the social insurance premium that should be paid, the social insurance premium collection agency may require the employer to provide guarantee and sign a deferred payment agreement.

If the employer fails to pay the social insurance premium in full and fails to provide guarantee, the social insurance premium collection agency may apply to the people's court for sealing up, distraining and auctioning the property whose value is equivalent to the social insurance premium that should be paid, so as to offset the social insurance premium with the proceeds from the auction.

Article 86

If the employer fails to pay the social insurance premium in full and on time, the social insurance premium collection agency shall order it to pay it within a time limit or make up for it, and from the date of default, an overdue fine of 5/10000 shall be added daily; Failing to pay within the time limit, the relevant administrative departments shall impose a fine of more than one time and less than three times the amount owed.