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Can Shenzhen social security be bought at the age of 40?
Legal basis: Detailed Rules for the Implementation of Social Endowment Insurance Regulations of Shenzhen Special Economic Zone.
Article 1 These Detailed Rules are formulated in accordance with the Regulations of Shenzhen Special Economic Zone on Social Endowment Insurance (hereinafter referred to as the Regulations).
Article 2 The term "working hours" as mentioned in the Regulations refers to the starting calculation time of the payment period (including deemed payment period).
Third insured persons shall not participate in the basic old-age insurance for employees in more than two overall planning areas at the same time. Those who have participated in the old-age insurance for residents outside the city may not participate in the basic old-age insurance for employees in this city upon their own application.
After reaching the statutory retirement age, people who move into this city with household registration are not included in the scope of social endowment insurance in this city. Where there are other provisions on the old-age insurance for residents, such provisions shall prevail.
People who have enjoyed the benefits of old-age insurance outside the city are not included in the scope of social old-age insurance in this city.
Article 4 If the insured person repeatedly participates in social endowment insurance in two or more overall planning areas, he shall go through the formalities of paying back the repeated contributions in this city in accordance with the relevant provisions of the state, and part of the principal and interest paid by the individual shall be returned to him, and the rest shall be included in the overall planning fund of this city's basic endowment insurance.
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