Is social security 60 or 65?

Those who have reached the statutory retirement age and paid 15 years can receive the basic pension on a monthly basis. Therefore, the minimum payment period of endowment insurance is 15 years.

The calculation and payment of pensions follow the principle of overpayment and overpayment. The insured can only receive a monthly pension after reaching retirement age and paying the old-age insurance premium for 15 years. This is only the minimum payment period, which does not mean that they have already paid the old-age insurance premium 15 years and need not pay it again. The insured shall, in principle, pay the fee until retirement. The insured who has reached the age of 60 and chooses to pay for insurance can receive a monthly pension; The insured person who chooses not to pay the fee and whose children meet the insurance conditions and have paid the fee can receive the basic pension on a monthly basis. The basic pension is funded by the government, and its standard is 1 10 yuan per person per month. If the payment period exceeds 15 years, the basic pension will be increased by 0. 1% every month.

Legal basis:

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

Sixteenth individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid for fifteen years at 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.

Derivative problem:

What conditions do you need to participate in rural endowment insurance over 60 years old? Insured persons who have reached the age of 60 and have not enjoyed the basic old-age insurance benefits for urban enterprise employees may apply for a pension if they meet one of the following conditions.

1. For the insured who has received the pension 15 years or more, the accumulated payment shall not be less than 15 years;

2. For the insured who are under 15 years of age when receiving the pension, the cumulative payment period shall not be less than the period when these Measures are implemented;

3. If you have reached the age of 60 and choose to pay for insurance (one-time payment 15 years), you can receive a monthly pension. Insured persons who choose not to pay and whose eligible children have already paid can receive the basic pension on a monthly basis (the current fixed pension is 1 10 yuan/month).