Is it cost-effective to transfer social security across provinces or is it appropriate to surrender your insurance?

Transferring social security across the country is much more appropriate than surrendering it. Surrendering can only receive the part paid by the individual, while transferring it across the country will keep all the social security payments in the social security account. And when it comes to insurance such as pension and medical care, the accumulated years of social security payment will be retained after transferring across provinces.

Social security can be transferred with the change of workplace, but not all kinds of insurance can be transferred together. Currently, you can only transfer pension insurance and medical insurance. Unemployment, work-related injuries, and maternity insurance are not transferable, and the amount of the pension account can also be transferred across provinces.

The general account means that when you reach the legal retirement age in the future, if the number of years of contributions meets the local regulations, you can go through the retirement procedures in the place, enjoy the retirement benefits of the place, so the social security account if you want to transfer it is possible to transfer.

Expanded information:

Participants in the new place of employment in accordance with the provisions of the establishment of basic old-age insurance relationship After establishing the basic pension insurance relationship in the new place of employment according to the regulations and making contributions, the employer or the insured person shall submit a written application for the transfer and continuation of the basic pension insurance relationship to the social security office of the new place of employment.

The social security agency in the new place of participation shall, within 15 working days, examine the application for transfer and continuity, and if it meets the conditions stipulated in these Measures, issue a letter of consent to the social security agency in the place where the original basic pension insurance relationship of the insured person is located and provide the relevant information; if it does not meet the conditions for transfer and continuity, it shall give a written explanation to the applying unit or the insured person.