How does the company pay social security for retirement?

When employees reach the statutory retirement age and meet the conditions for receiving pension, they can start to receive pension insurance. The following is the general process of China's endowment insurance pension collection:

1.** Confirm retirement qualification * *: First, you need to confirm whether you meet the retirement conditions stipulated by the state, including age, payment period, etc.

2.** Retirement procedures * *: Apply to the employer for retirement and submit relevant materials, such as ID card, social security card and work certificate.

3.** Unit approval * *: The unit submits your retirement application and related materials to the community (or street offices) and social insurance agencies for approval.

4.** Review and Confirmation * *: The social insurance agency will review your retirement qualification and go through relevant retirement procedures after confirmation.

5.** Implement pension payment * *: After approval, you will be included in the pension payment list, and the pension will be paid to your personal bank account regularly.

6.** Receiving pension * *: Generally, the pension is directly credited to the personal bank account by bank transfer every month. You can withdraw cash by bank card or pay directly by electronic means.

7.** Regular inspection * *: Some areas may regularly check the living conditions of retirees to ensure the continuous payment of pensions.

If you are about to retire or have retired, and want to know how to get a pension, it is recommended to contact your employer or local social insurance agency in time to learn the specific operation process and required materials, because the specific details in different regions may be different. At the same time, make sure your personal information (such as bank account information) is accurate, so as to get the pension smoothly.

I hope the above content can help you. Please consult a professional lawyer if you have any other questions.

Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC).

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of 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.