How much money can you get back from a flexible employment social security refund

The amount of money you can get back from a flexible employment social security withdrawal depends on a number of factors.

First of all, social security withdrawal is not something you can apply for at will, but must meet certain conditions. For example, a participant can only apply for a social pension insurance refund if he or she dies while employed, leaves the country to settle, or if a foreigner or a person from Hong Kong, Macao or Taiwan leaves the country and terminates his or her labor relationship. If these conditions are not met, the surrender cannot be processed.

Secondly, even if the conditions for surrendering the insurance are met, the full amount cannot be surrendered. When applying for surrender, you can only return the money in your personal account at most, but not the money that has already been put into the social security account. Specifically, flexibly employed people can only return 40% of their premiums when they surrender their insurance, while employee participants can only return the balance in their personal accounts. This is because a portion of the money in social security is used for social coordination, and this portion cannot be returned.

Lastly, it should be noted that it is relatively uneconomical to withdraw from social security, as very little money can be returned. Therefore, it is recommended that you try to accumulate 15 years of contributions and receive a monthly pension. If you do need to surrender your insurance, please know the local policies and regulations well in advance so that you can make the most informed decision.

The benefits of paying social security for flexibly employed people are as follows:

1. Protecting their own rights and interests: Flexibly employed people don't have social security benefits like corporate workers, and without social security protection, once they suffer from illnesses or accidents, they will need to bear the medical expenses, unemployment benefits and pensions on their own, which is a very big pressure and risk to the economy. Purchasing social security, you can get basic medical insurance, pension insurance, unemployment insurance and other social insurance protection, to avoid accidents or diseases to their own financial burden, to protect their own basic life and rights and interests.

2. Improve credit record: Purchasing social security can build up a good credit record for flexibly employed people. In the future, if you need to take out a loan, apply for a credit card or other financial services, having a good credit record will make it easier for you to gain the trust and recognition of financial institutions and enjoy more financial services and benefits.

3. Increase employment opportunities: Purchasing social security also helps to increase employment opportunities for flexible workers. In some hiring processes, some companies will prioritize job seekers with social security because it represents stability and reliability. Purchasing social security can improve the competitiveness of job seekers and increase employment opportunities.

In summary, the amount of money you can get back by surrendering your social security insurance for flexible employment is not much and you need to fulfill certain conditions. Therefore, before deciding whether or not to surrender your insurance, you should fully consider your personal situation and needs, and consult the relevant departments or professionals.

Legal basis:

Social Insurance Law of the People's Republic of China

Article 2

Employers and individuals shall pay social insurance premiums in accordance with the law. The State establishes a system of social insurance, including basic pension insurance, basic medical insurance, industrial injury insurance, unemployment insurance, and maternity insurance, to safeguard the right of citizens to obtain material assistance from the State and society in accordance with the law in the event of old age, sickness, industrial injury, unemployment, or childbirth.