If you don't retire in time, what will be the impact of being late?

Failure to handle retirement in time may have a series of effects on individuals, involving the collection of pensions, the handling of social security relations and possible economic losses.

First, the pension is limited.

The most direct impact of not going through retirement formalities in time is the limited pension. According to the state regulations, retirees can't start to receive pensions until they reach the legal retirement age and go through retirement procedures. If you don't retire in time, individuals will not be able to enjoy the pension benefits they deserve during the delay.

Second, the handling of social security relations is complicated.

Handling retirement procedures involves the transfer and settlement of personal social security relations. Failure to handle retirement in time may lead to complicated handling of social security relations. For example, it may be necessary to pay the unpaid social security fees before, or to deal with the changes in social security relations brought about by delayed retirement.

Third, the risk of economic loss increases.

In addition to the limited pension and complicated handling of social security relations, not handling retirement in time may also increase the risk of personal economic losses. For example, during the period of delayed retirement, if an individual has an accident or illness, he may face financial difficulties because he does not enjoy the pension benefits he deserves.

Fourth, affect the quality of personal life.

Retirement is an important turning point in life, marking the transition from career to later life. Not retiring in time may have a negative impact on personal quality of life. For example, you may miss the time to reunite with your family and enjoy your life because you are still working, or you may reduce your quality of life because of economic pressure.

To sum up:

Failure to apply for retirement in time will have many effects on individuals, including limited pension collection, complicated handling of social security relations, increased risk of economic losses, and impact on personal quality of life. Therefore, when individuals reach the legal retirement age, they should go through retirement procedures in time to ensure that their rights and interests are protected.

Legal basis:

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

Article 16 stipulates:

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.

This article makes it clear that when an individual reaches the statutory retirement age and meets the conditions of accumulated payment of 15 years, he can receive a basic pension on a monthly basis. Therefore, not going through the retirement formalities in time will affect the collection of personal pension.

Labor law of the people's Republic of China

Article 73 provides that:

Workers shall enjoy social insurance benefits according to law under the following circumstances: (1) Retirement; (2) Being sick or injured; (3) Being disabled at work or suffering from occupational diseases; (4) unemployment; (5) bearing. After the death of an employee, his survivors shall enjoy the survivors' allowance according to law. The conditions and standards for workers to enjoy social insurance benefits shall be stipulated by laws and regulations. Social insurance premiums enjoyed by workers must be paid in full and on time.