New regulations on social security for people living abroad

In both cases, before reaching the statutory retirement age, employees who have settled abroad and obtained the nationality of their country of residence may, upon their own application, pay the principal and interest of the personal account of the employee's basic old-age insurance to them in one lump sum to terminate the basic old-age insurance relationship. Those who have not obtained the nationality of the country of residence will continue to retain the basic old-age insurance relationship, and employees will be treated according to the regulations when they meet the statutory retirement conditions.

Legal basis:

Notice on the treatment of retired and resigned personnel who are allowed to settle abroad

First, if the retired or resigned personnel who are allowed to settle abroad really need to settle down, upon their own application, the unit where they work can pay the retirement and resignation expenses not exceeding that of the current year.

Two, for retirees who have been allowed to settle abroad, the unit that pays the retirement and resignation benefits can pay the retirement and resignation expenses for no more than three months at a time according to their survival certificates. If you have special needs, it's up to me.

Upon application, you can pay for retirement and resignation for up to six months.

The foreign exchange for the above-mentioned retirement and resignation fees shall be examined and issued by the local China Bank according to the relevant provisions of the Detailed Rules for the Implementation of the Examination and Approval of Individual Foreign Exchange Applications.

Three, the above reply is also applicable to retirees who are allowed to settle in Hong Kong and Macao. Their survival certificates can be handled by the Hong Kong and Kowloon Federation of Trade Unions and the Macao Federation of Trade Unions respectively.

Four, the collective ownership enterprises and institutions of retired and resigned personnel are allowed to settle abroad, the retirement and resignation fee payment method, specifically by the provinces, municipalities and autonomous regions at the same level of labor and personnel departments and China Bank, Overseas Chinese Affairs Office consultation.