New rules for one-time payment of social security in 2024

In 2024, the new rules of one-time payment of social security means that after 2024, individuals or units can choose a new policy of one-time payment of social insurance premiums.

Prior to this, social insurance premiums were usually paid monthly, but the new regulations allow individuals or units to choose to pay unpaid social insurance premiums in one lump sum under certain conditions.

The implementation background of this new regulation is to meet the needs of individuals or units under specific circumstances. For example, individuals may be unable to pay social insurance premiums on time because of long-term resignation, and freelancers may be unable to pay social insurance premiums because of unstable income and other reasons. The one-time payment policy allows individuals or units to settle unpaid social insurance premiums at one time within a certain period of time.

Specific payment terms and procedures may vary according to regions and specific policies. Generally speaking, individuals or units need to apply to the social insurance department, submit relevant certification materials, and pay unpaid social insurance premiums in accordance with the prescribed time and manner. The social insurance department will examine and decide whether to accept the one-time payment application according to the specific circumstances of the applicant.

It should be noted that one-time payment of social insurance premiums may involve certain interest or late payment fees, and the specific amount and calculation method will also vary according to different regions and policies. Therefore, individuals or units should know the relevant policies and cost calculation methods in detail before deciding whether to choose one-time payment.

In short, in 2024, the new social security lump-sum payment policy is a policy to meet the specific needs of individuals or units, allowing individuals or units that have not paid social insurance premiums to choose to settle unpaid fees in one lump sum. The specific conditions and procedures may vary according to different regions and policies. Individuals or units should fully understand the relevant policies and cost calculation methods before deciding whether to choose one-time payment.

The new social security payment policy in 2024 aims to reshape the old-age security system and provide more reliable old-age security for the majority of workers. According to the new policy, in 2024, individuals and units need to pay social security according to the new payment standard, and a one-time payment rule has been introduced. This means that unpaid social security fees can be paid in one lump sum within a certain period of time to make up for the previous arrears. The implementation of this new policy will help to reduce the arrears of social security fees and improve the stability and sustainability of old-age security. At the same time, the government will strengthen supervision and law enforcement to ensure the fairness and transparency of the social security payment system. The introduction of this new policy will provide more reliable old-age security for workers and promote social stability and development.

Legal basis:

People's Republic of China (PRC) Social Insurance Law;

Chapter II Basic Endowment Insurance

Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of employees stipulated by the state and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.