Must self-funded social security be in the place where the household registration is located?

Buying social security can be divided into enterprises and individuals. If an enterprise buys social security, it has nothing to do with the place of residence. It only needs to provide a copy of ID card, labor contract and a 1 inch photo.

If an individual buys social security, it is related to the location of the account. If he buys urban social security, he needs to go to the social security bureau where his household registration is located. Take a copy of your ID card and your household registration book. If you need to live in a different place in the future, you can apply to the social security bureau where the original account is located, and apply for a notice of continuation of the old-age insurance relationship.

Social security address, contact information, bank address and account number of the newly insured place, and affix the social security seal. Then take this certificate to the original insured place to go through the relevant formalities, and the original social security association will remit all the expenses in the personal account of endowment insurance to the account of the new social security center. Collect social security in the new city in the future.

The biggest advantage of paying social security at one's own expense is that you decide the amount, term and type of insurance, while the biggest disadvantage is that the personal financial burden is heavy. Once you stop paying, the economic loss will be relatively large. Under normal circumstances, few people decide to pay social security at their own expense, unless they are self-employed, flexible employees and unemployed people. These people want to get basic social security, so they can only pay social security out of their own pockets.

Although some insured people with relatively good economic conditions have increased their insurance coverage, which has brought great protection to their old age, it is more worry-free, labor-saving and cost-effective for ordinary workers to pay insurance by enterprises.

Paying social security at one's own expense can prevent social security from being paid off, but once it is stopped, personal interests will suffer great losses:

After the employee leaves the original enterprise, the social security payment stops. In this case, if employees fail to pay social security in time or transfer to new units, they will not be able to enjoy medical insurance benefits normally, nor will they be able to protect their legitimate rights and interests through work-related injury insurance, unemployment insurance and maternity insurance.

If you pay social security at your own expense, you can avoid these situations. However, it should be noted that once the self-payment of social security is stopped, the money transferred into the overall account will not be returned, and the insured or their families can only control the balance in the social security card, causing great personal losses.

Paying social security contributions at their own expense is high, which is far less cost-effective than paying by enterprises;

If the enterprise pays social security, the enterprise bears most of the expenses. Take the old-age insurance as an example, the enterprise contribution rate is 20%, and the individual contribution rate is 8%. Pensions paid by enterprises will be included in the overall account, and 8% paid by individuals will be transferred to personal accounts.

If the endowment insurance is self-funded, the payment ratio is 20%, of which 12% is included in the overall account and 8% is transferred to the personal account. From this perspective, it is not cost-effective for individuals to pay social security. However, some employees' pension insurance is only two or three years away from reaching the requirement of accumulated payment period, so it is more cost-effective to pay fees in these years and receive pensions normally.

Legal basis: People's Republic of China (PRC) Social Insurance Law.

Article 4 Employers and individuals who pay social insurance premiums according to law in People's Republic of China (PRC) have the right to inquire about payment records and personal rights and interests records, and ask social insurance agencies to provide social insurance consultation and other related services.