Can endowment insurance be used nationwide?

Personal accounts for endowment insurance have become popular in China.

The state establishes an individual endowment insurance account for each insured person, which is recorded for life. In other words, once the personal account of endowment insurance is established, the social security management institution will provide lifelong service for it. No matter where the payment is made, no matter whether the payment is intermittent or not, the personal account will record the rights and interests of the insured.

If the insured person's household registration changes during the payment period and needs to transfer the pension insurance relationship between urban and rural residents across regions, the opinion stipulates that you can apply for the transfer of the pension insurance relationship at the place where you move in, transfer all the stored amount in your personal account at one time, and continue to pay for the insurance in accordance with the regulations of the place where you move in, and the payment period is calculated cumulatively.

Even if you participate in other social security systems (such as basic old-age insurance for urban workers), your personal account can be transferred in full. In addition to individual contributions, government subsidies, collective subsidies and other subsidies are also included in individual accounts, which reflects the state's support for the insured to pay fees.

Conditions for receiving old-age insurance:

At the age of 60, the payment has reached 15 years.

Individuals who participate in the old-age insurance for urban and rural residents, who have reached the age of 60, have paid a total of 15 years, and have not received the basic old-age security benefits stipulated by the state, can receive the old-age insurance benefits for urban and rural residents on a monthly basis.

When the new rural insurance or urban residential insurance system is implemented, it has reached the age of 60, and those who have not received the basic old-age security benefits stipulated by the state before the date of publication of this opinion do not need to pay. From the date of implementation of this opinion, you can receive the basic pension for urban and rural residents' old-age insurance on a monthly basis; If the collection period is less than 15 years, the payment shall be made year by year, and supplementary payment is allowed, and the accumulated payment shall not exceed 15 years; Those who have received the payment for more than 15 years shall be paid annually, and the accumulated payment shall not be less than 15 years.

If the recipients of the old-age insurance benefits for urban and rural residents die, the pension will be stopped from the next month. Conditional local people's governments can explore the establishment of a funeral subsidy system in light of local conditions.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.