The latest regulations on extending the social security payment period

According to "Several Provisions on Implementing the Social Insurance Law of People's Republic of China (PRC)", if the accumulated contributions of basic old-age insurance are less than 15 years when employees reach the statutory retirement age, the contributions can be extended to 15 years. If the insured before the implementation of the Social Insurance Law and the extension of payment is less than 15 years after 5 years, it can be paid to 15 years in one lump sum. The basic old-age insurance payment period includes the actual payment period and the deemed payment period. The actual payment period refers to the period when employees or insured individuals have paid the basic old-age insurance premium in full. The deemed payment period refers to the continuous length of service or continuous working period (excluding the converted length of service, the same below) before employees or insured individuals actually pay the basic old-age insurance premium according to the regulations, which is in line with the relevant national policies.