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How many years does it take to buy social security at the age of 49?
Legal analysis: Individuals who purchase social security and participate in the basic old-age insurance for employees at the age of 49, when they reach the legal retirement age, can extend the payment to fifteen years if the accumulated payment is less than 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.
Legal basis: Article 2 of the Social Insurance Law of People's Republic of China (PRC) The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance, maternity insurance, etc., to protect citizens' right to get material help from the state and society according to law in case of old age, illness, industrial injury, unemployment and maternity.
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