What should I do if I have not paid 15 years of pension insurance contributions by the time I retire?

1, by the time of retirement, pension insurance contributions less than 15 years can continue to pay until the full fifteen years, and then you can receive a pension. Article 16 of the Social Insurance Law of the People's Republic of China stipulates that individuals who have participated in basic old-age insurance will receive a monthly basic pension if they have accumulated 15 years of contributions by the time they reach the legal retirement age. Individuals who have participated in basic old-age insurance and have contributed for less than fifteen years by the time they reach the legal retirement age may contribute until they reach the full fifteen-year limit and receive a basic pension on a monthly basis; they may also be transferred to the new type of rural social old-age insurance or to the social old-age insurance for urban residents, and will enjoy the corresponding old-age insurance benefits in accordance with the provisions of the State Council.

2. When you retire with less than 15 years of pension insurance contributions, the social security department will refund you the balance on your personal account for 14 years of social security contributions, including 8% of your own contributions and a portion of the unit's contributions (3%),***11% of the refunded amount. The rest of the unit's contribution goes as a pooled fund for social security contributions.

The pension, also known as retirement pension and retirement fee, is one of the most important social pension insurance benefits. That is, the relevant state documents: in the old age or loss of working ability, according to their contribution to society and have the qualification to enjoy the pension insurance or retirement conditions, monthly or one-time payment in the form of monetary insurance treatment, is the need to benefit the community, mainly used to protect the basic needs of workers after retirement. Pensions are accumulated and operated on the basis of the principle of accumulation by the State, the collective and the individual***.

So you know what to do if you do not pay the pension insurance to fifteen years by the time you retire!

Legal basis

The Chinese people*** and the State Social Insurance Law in its entirety, Article 16 Participating in the basic old-age insurance individuals, to reach the legal retirement age when the cumulative contributions of fifteen years, receive a basic pension on a monthly basis. Individuals who have participated in basic pension insurance and have contributed for less than fifteen years by the time they reach the legal retirement age may contribute until they reach the full fifteen years, and receive a basic pension on a monthly basis; they may also be transferred to the new type of rural social pension insurance or urban residents' social pension insurance, and enjoy the corresponding pension insurance treatment in accordance with the provisions of the State Council.