Does it make sense to buy social security at 54?

It makes sense to pay social security at the age of 54. After paying social security, you can enjoy the corresponding social security, but the pension of old-age insurance needs to reach the payment period before you can receive it. If the pension period is not paid in full after reaching retirement age, the pension can be refunded or paid in one lump sum.

The functions and benefits of social security are as follows:

1, maternity insurance benefits, can reimburse maternity-related expenses, provide pregnancy check-up, medical services, maternity allowance and paid holidays, such as birth check-up fees, surgery fees, delivery hospitalization fees, etc. ;

2, the benefits of medical insurance, hospitalization can be reimbursed by medical insurance for most of the expenses;

3. Treatment of industrial injury insurance. In the process of work, if an accident occurs, you can apply for work-related injury identification, so that the enterprise can bear the responsibility of raising;

Benefits of old-age insurance: When people get old, they will lose their labor force. At least 60 years of age, accumulated over 15 years, can receive a monthly pension and enjoy the security fund according to the local economic level;

5. unemployment insurance benefits: When unemployment insurance has expired 1 year, you can get unemployment insurance money during unemployment, and you can apply for reimbursement of 70% of medical expenses when you go to the hospital.

Social security is a social security system established by the state through legislation. Its purpose is to enable workers to get material help from society (country) when they lose their ability to work or get employment and livelihood due to old age, illness, disability, death and unemployment.

Legal basis:

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

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts. The basic old-age insurance fund consists of employers, individual contributions and government subsidies.

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.

Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.