When do I retire without paying social security fees myself?

When do I retire without paying social security fees myself?

According to the provisions of Article 16 of the Social Insurance Law of People's Republic of China (PRC), individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis when they reach the statutory retirement age and have paid for 15 years.

Specifically, individuals who pay social security fees and meet the following conditions can enjoy retirement benefits:

Age: Men must be over 60 years old and women must be over 55 years old. If a woman begins to pay social security fees by herself before the age of 45 and continues until retirement age, the cumulative payment period must be 15 years. If the payment period is less than 15 years, one-time payment can be made to 15 years when retiring.

Payment standard: before reaching retirement age, social security fees must be paid according to regulations. Specific payment standards can be consulted with local social security institutions or relevant departments.

Payment period: When reaching retirement age, the requirement that the cumulative payment period is 15 years must be met. If the payment period is less than 15 years, one-time payment can be made to 15 years when retiring.

Go through retirement formalities: After reaching retirement age and meeting the above conditions, you need to go through retirement formalities. Specific procedures can be consulted with local social security agencies or relevant departments.

To sum up, individuals can enjoy retirement benefits after paying social security fees by themselves, reaching the statutory retirement age and meeting the conditions of payment period, payment standards and retirement procedures.

Legal basis:

Article 16 of the Social Insurance Law of People's Republic of China (PRC) stipulates: "Individuals who have participated in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid for 15 years at the statutory retirement age."