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How to renew social security when it stops?
People's Republic of China (PRC) social insurance law
Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government. When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.
Article 14 Individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.
Fifteenth basic pension consists of overall pension and individual account pension.
The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.
Sixteenth individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid for fifteen years when they reach the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.
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