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When can the social security in Zhangjiajie City, Hunan Province be paid in one lump sum?
Interim Measures of Zhangjiajie Municipality on Endowment Insurance for Urban Basic Employees
Article 32 Individuals who participated in the basic old-age insurance before the implementation of these Regulations, reached the statutory retirement age, and the accumulated payment period was over 10 years but less than 15 years, can receive the basic pension on a monthly basis in the month when they reached the statutory retirement age, based on the average monthly salary of employees in the previous year in this Municipality, according to the payment rate implemented in that year 15 years later; If the accumulated payment period is less than ten years, it shall continue to pay monthly until ten years later, and then the average monthly salary of employees in this city in the previous year shall be used as the base, and the payment rate implemented in that year shall be filled for fifteen years at a time, and the basic pension shall be received monthly.
According to the Measures of Hunan Province for Old-age Insurance for Employees of Urban Enterprises
Article 24 If the employer and individual workers have paid the basic old-age insurance premiums for a total of 10 years or more according to the regulations, they will be paid the basic old-age pension by the social insurance institution on a monthly basis from the month following the retirement formalities (private entrepreneurs, individual industrial and commercial households and their helpers are deemed to be retired when they reach the age of 60, and women are deemed to be retired when they reach the age of 55).
Before the implementation of the basic old-age insurance system for employees, the continuous length of service (excluding the converted length of service) calculated by employees in accordance with the relevant provisions of the state and the province is regarded as the payment period of employers and employees.
Employers and employees who have paid the basic old-age insurance premiums for less than 10 years in accordance with the regulations will pay the old-age allowance in one lump sum according to the standard that the average monthly salary of employees in this province last year was 2 months when they left their jobs.
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