Is it cost-effective for individuals to pay for social security or not?

It is cost-effective to pay for your own pension insurance.

It is necessary to buy a personal pension insurance to the social security bureau where the household registration, the procedures include: my identity card, recent crownless one-inch photo preparation two, premiums, application form and so on can be. And can only apply for pension, medical insurance two. How much to pay is based on the local social wage last year to calculate, and each year is not the same.

Additionally, there are provisions for the lowest and highest grades, and the lowest grade shall not be less than 60% of the average monthly salary of the average social worker, and the highest grade shall be 300% of the average monthly salary of the average worker. Generally, the lowest grade is the majority.

The minimum contribution period for pension insurance is 180 months or 15 years, and for medical insurance you need to contribute for at least 25/30 years to reach retirement age and apply for pension benefits and medical reimbursement.