Five insurance and one gold transfer of foreign countries have an impact on the individual

The transfer of the five insurance and one gold to a different place does have an impact on the individual.

Mainly in the following aspects:

Pension insurance: when an individual is employed across the integrated region, the basic pension insurance relationship is transferred with the individual, and the years of contribution can be accumulated and calculated. When an individual reaches the legal retirement age, the basic pension will be calculated in segments and paid uniformly based on the number of years of contributions, the contribution base, the balance of the individual account, and the average wage of the employees in the place where the pension is received.

Medical insurance: starting in 2019, a unified nationwide medical insurance system for urban and rural residents has been fully launched and implemented. The direct settlement of hospitalization expenses can be realized for medical treatment in a different place, and with the card settlement function, it can also participate in inter-provincial reimbursement. This makes the settlement of hospitalization expenses for cross-location medical treatment more convenient, preferential and reassuring.

Transfer of social security accumulated years: the transfer of social security for the employees themselves there is a positive impact on the number of years of social security payments can be accumulated, easier to reach the cumulative total of fifteen years of contributions, which is very necessary for the employee to receive pension benefits after reaching retirement age.

Medicare and maternity benefits: If the place of payment and the place of work are not the same, the place of work will not be able to access the insurance information, resulting in the inability to use the instant reimbursement of the medical insurance when sick, or not be able to reimburse the maternity expenses directly when giving birth at the place of work. Therefore, if you are sure that you want to give birth to a child or seek medical treatment at your place of work, you need to go through the appropriate record-keeping procedures in advance.

Pension: The pension is linked to the social wage at the place of retirement. The more developed the city, the higher the wage level, and the more pension the local retirees will receive. If the place of social security payment is not in a big city, you may lose the eligibility to receive a pension in a big city, thus affecting the financial income after retirement.

The process of transferring the five insurance policies:

1. Before moving across the province, the insured person should go to the social security organization of the original place of participation to open the Social Security Participation and Payment Voucher.

2. The insured person holds the payment voucher, hukou, ID card and so on to the social security organization in the new place of employment to apply for the continuation of the relationship.

3. The social security organization in the new place of employment will examine whether the applicant meets the requirements within 15 working days.

4. Within 15 working days after the receipt of the Contact Letter, the social security agency in the original place of employment will clear whether the applicant's contributions are in arrears and handle the transfer of social security funds, terminate the applicant's participation in the local social security relationship, and issue an Information Sheet of Social Security Relationship Transfers and Continuities to the new place of employment.

5. The social security agency of the new place of participation will complete the relevant procedures within 15 working days after receiving the Information Sheet and the transfer fund

In summary, the transfer of five insurance funds to a different place has an important impact on the individual, which involves the rights and interests of the pension, medical care and many other aspects. Therefore, when considering the transfer of social security, decisions should be made according to the actual situation and future planning of the individual.

Legal basis:

The Social Insurance Law of the People's Republic of China

Article 19

If an individual is employed across a coordinated area, his or her basic pension insurance relationship is transferred along with him or her, and his or her years of contributions are cumulative. When an individual reaches the statutory retirement age, the basic pension shall be calculated in sections and paid uniformly. The specific methods are stipulated by the State Council.