How old does endowment insurance start to get money?

The female is 55 years old and the male is 60 years old. When you reach the legal retirement age, you need to pay 15 years, go through the retirement formalities, and receive the basic pension on a monthly basis.

Among them, the flexible retirement age system can be implemented for the retirement age of female employees, that is, female employees who meet the retirement conditions can be appropriately postponed for a minimum of not less than one year and not more than 55 years old because of their work needs after reaching the statutory retirement age for one month.

According to the current basic old-age insurance policy, people who meet the following conditions can receive a basic pension on a monthly basis.

(a) to participate in the basic old-age insurance for enterprise employees, and pay the basic old-age insurance premiums in accordance with the provisions. The insured person of the employer, male over 60 years old; Female employees are over 50 years old and female cadres are over 55 years old; Retirement age of individual insured: male over 60 years old; Female 1 99665438+1 October1,who has participated in the basic old-age insurance for enterprise employees and is over 50 years old,199665438+1October1and later, ignoring the same payment period.

(2) The payment years (including deemed payment years, excluding the converted length of service) have reached 15 years and above, of which: 1996 65438+ 10/to work (or participate in basic old-age insurance), and in June 2006, 65438+.

(III) After the insured reaches the national statutory retirement age, if the payment period fails to meet the requirements of receiving monthly retirement benefits and the payment cannot be continued, the pension insurance relationship will be interrupted after going through the one-time payment formalities at the social security bureau of the insured place the month after reaching the national statutory retirement age.

Old-age insurance, the full name of social basic old-age insurance, is a social insurance system established by the state and society in accordance with certain laws and regulations to solve the basic life of workers who reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age.

What procedures do you generally need to go through to buy endowment insurance?

The procedures required for the initial payment of endowment insurance are: ID card, household registration book and two photos to the social security bureau where the household registration is located.

Employees shall participate in the basic old-age insurance, and both employers and employees shall pay the basic old-age insurance premium. Generally speaking, the endowment insurance is 20% for the unit and 8% for the individual.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 15

The 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.

Article 16

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.

Article 18

The state establishes a normal adjustment mechanism for basic pensions. According to the average wage increase and price increase of employees, the basic old-age insurance treatment level will be improved in a timely manner.