Military retirement pension insurance system

The Military Retirement Pension Insurance System is a social security system that guarantees military personnel the pension insurance benefits stipulated by the State after they leave active service.

An individual pension insurance fund for military personnel is established through national legislation. The People's Liberation Army retirement pension insurance fund is mainly borne by the State, units and individuals.

It plays an important role in safeguarding the living standards of military personnel in their old age, relieving them of their worries and putting their minds at ease while serving in the armed forces. Countries around the world generally implement the military retirement pension insurance system. The United States has veterans group life insurance program. Germany has set up retirement pension insurance for professional soldiers, contract soldiers, conscripts and retrainees. Japan has collective pension insurance, veterans' mutual pension insurance and group pension insurance for personnel of the Ministry of Defense. In France and Canada, social insurance for military personnel includes pension insurance. Turkey's social assistance for members of the armed forces also includes a pension component. The Chinese People's Liberation Army (PLA) military retirement pension insurance policy is diverse, with different retired personnel enjoying different retirement pension insurance. The administration of pension insurance for retired military personnel relies on local social insurance organizations, and the level of benefits is usually higher than for other members of society. The People's Armed Police Force (PAPF) refers to the implementation of the relevant provisions of the PLA's military retirement pension insurance. The People's Liberation Army military retirement pension insurance covers four categories of retired personnel:

①Military cadres who have been transferred to work in enterprises carry out the pension insurance system for enterprise employees, with their military service being regarded as years of contributions and enjoying a one-off pension insurance subsidy, and after retirement, basic pension insurance benefits are paid out in accordance with the enterprise's pension insurance scheme.

②Transfer to the institutions, institutions working in the military cadres, to enjoy the acceptance of the placement unit and its military job level or equivalent personnel pension insurance treatment.

3 independent choice of military cadres to participate in the local basic pension insurance in accordance with the law, pay pension insurance premiums, and enjoy the corresponding pension benefits, its social insurance contributions from the date of its local social insurance contributions.

4. Retired non-commissioned officers and conscripts who are employed in towns and cities shall participate in local pension insurance and pay pension insurance premiums in accordance with the relevant provisions of the State, and their years of military service, together with the period of time they have been waiting to be assigned to the military shall be counted as consecutive years of service and shall be regarded as the number of years of payment of pension insurance premiums, and they shall enjoy the corresponding pension insurance benefits.

The Social Security Administration (SSA) will generally pay out the retirement pension to each retiree's bank account around the 10th of each month;

In some places, the agreed date of payment of the pension is not standardized at the time of retirement, and is intended to be paid out in batches in order to alleviate the peak of the collection;

The regulations may be different in each place, and it is recommended to consult with your local social security office, or to ask someone who is already getting a pension.

Retirement procedures participants should reach the legal retirement age one month before (deferred contributions to the participants in the month of full years of contributions) to the Social Security Administration for retirement procedures participants for retirement, you need to submit the following information:

(1) you must fill out the "Retirement Application Form" (two copies of the unit or the neighborhood committee stamped)

(2) one inch color photo of myself

(3) A copy of ID card.

The minimum payment period for pension insurance is 180 months or 15 years, and you can pay more to receive more. At the same time, pension insurance can be calculated cumulatively, that is, intermittent payment is allowed. Medical insurance requires at least 25/30 years of contributions, and you can apply for pension benefits and medical reimbursement when you reach the retirement age (as long as you renew your contributions at the usual time, it is also allowed). The retirement age is now 60 for men and 55 for women. Of course, engaged in high-risk jobs, loss of labor capacity and other special circumstances can apply for early retirement and receive pension benefits.

Legal basis:

Article 16 of the Social Insurance Law: Individuals who have participated in basic old-age insurance and have paid contributions for a total of fifteen years by the time they reach the legal retirement age shall receive a basic pension on a monthly basis. Retirement salary can be issued by the social security center starting from the next month after retirement, please consult the local social security agency for details.