Job Recruitment Website - Social security inquiry - Can I buy social security at one time now?
Can I buy social security at one time now?
Yes, social insurance is a social and economic system that provides income or compensation for people who are unable to work, temporarily unemployed or suffer losses due to health reasons. The Social Insurance Law of People's Republic of China (PRC) stipulates: 1. When an individual participates in the basic old-age insurance for employees and reaches the statutory retirement age, if the accumulated payment is less than 15 years, it may be extended to 15 years. If the insurance was insured before the implementation of the Social Insurance Law, and the payment is still less than 15 years after the extension of 5 years, it can be paid in one lump sum. After the employee's basic old-age insurance reaches the statutory retirement age, if the accumulated payment is less than 15 years, he/she may apply for transferring to the new rural social old-age insurance or urban social old-age insurance where his/her household registration is located, and enjoy the corresponding old-age insurance benefits.
Legal objectivity:
"Detailed Rules for the Implementation of Certain Provisions of the Social Insurance Law of People's Republic of China (PRC)" Article 2 When an individual who participates in the basic old-age insurance for employees reaches the statutory retirement age, if the accumulated payment is less than fifteen years, the payment may be extended to fifteen years. After the implementation of the Social Insurance Law, if the payment is extended for five years but still less than fifteen years, it can be paid in one lump sum for fifteen years.
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