Is it cost-effective to start paying old-age insurance at the age of 50?

It's more cost-effective if it's a man. Because the accumulated payment period must be at least 15 years to receive the pension. For a man, his retirement age is 60, so if he retires at 65, it should be extended by five years. The current trend is to delay retirement. So it is basically cost-effective.

And it won't last long. If it's a woman. It should also be possible. Because you can go through retirement formalities at the age of 65, your current cadre status is 55. Delayed retirement may also be 60 years old. So if you retire at the age of 65, you will be extended for five years. If you live a long and healthy life, it is still more cost-effective. Moreover, 40% of the social security and endowment insurance we pay are paid into personal accounts. Therefore, the money in a personal account can be inherited according to law. If you don't enjoy it for a few years after retirement, the money in your personal account can be returned to your family. Moreover, his funeral subsidies and pensions are distributed in accordance with scientific management and distribution methods.

So if you enjoy it for a short time, you will get more funeral subsidies and pensions. Probably, the amount you pay is equivalent to the amount you finally get. So you won't lose much.

Therefore, each of us should pay social security as much as possible, so that we can have a basic living guarantee in our old age.

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