Minimum age limit for residents' endowment insurance

The minimum age limit for residents' old-age insurance is 16 years old.

Generally speaking, urban and rural residents who have local household registration, are over 16 years old, are not staff members of state organs and institutions, and have not participated in the basic old-age insurance for urban workers can participate in the basic old-age insurance for urban and rural residents. It should be noted that students in school are not included in the population of 16 years old. Insured residents who have reached the age of 60 can receive monthly pensions including basic pensions and personal account pensions. The basic old-age pension is paid in full by the government, not less than that of 55 yuan per person per month, and the state makes timely adjustments according to economic development and price changes.

You can enjoy the following rights by paying five insurances and one gold:

1, old-age insurance: receiving old-age pension, retirement pension and funeral expenses after retirement is the guarantee of old-age life;

2. Medical insurance: medical reimbursement and medical insurance treatment services for the elderly;

3. Unemployment insurance: receive unemployment insurance after unemployment;

4. Work-related injury insurance: payment of work-related injury medical expenses, living care expenses, disability allowance and disability allowance;

5. Housing accumulation fund: used for personal expenses such as buying a house, decorating and renting a house.

To sum up, industrial injury insurance and maternity insurance do not need to be paid by individuals, but are paid by enterprises. Individuals who participate in the basic medical insurance for employees will not pay the basic medical insurance premium after retirement and enjoy the basic medical insurance benefits in accordance with the provisions of the state if they reach the statutory retirement age and the accumulated payment has reached the fixed number of years stipulated by the state; Those who have not reached the fixed number of years prescribed by the state may pay the fees to the fixed number of years prescribed by the state. Medical expenses that should be borne by a third party according to law. If the third party is unable to pay or cannot determine the third party, the basic medical insurance fund will pay in advance. After the basic medical insurance fund pays in advance, it has the right to recover from the third party. Workers with work-related injuries who meet the conditions for receiving basic old-age pension will stop receiving disability allowance and enjoy basic old-age insurance benefits. If the basic old-age insurance benefits are lower than the disability allowance, the difference will be made up by the industrial injury insurance fund.

Legal basis:

Article 10 of People's Republic of China (PRC) Social Insurance Law

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.