How to Understand and Implement Article 2 of People's Republic of China (PRC) Social Insurance Law

Some Provisions on Implementing the Social Insurance Law of People's Republic of China (PRC)

Article 2 When an individual participating in the basic old-age insurance for employees reaches the statutory retirement age, if the accumulated payment is less than 15 years, the payment may be extended to 15 years. After the implementation of the Social Insurance Law, if the extension of payment for five years is still less than 15 years, it can be paid in one lump sum until it reaches 15 years.

A reaches the retirement age of 60, but the social security contribution is less than 15 years (assuming payment 10 years), he can continue to pay until 15 years to enjoy the old-age insurance (A 65 years old).

The social security law was implemented on July 20 1 1, 1.

If B is over 60 years old, but insured in July of 1 1 year, the payment will be less than 15 years after five years' delay (assuming 10 years), and the accumulated payment will be 10 years after five years' delay. At this time, B is 65 years old and will pay the insurance for five years in one lump sum.