Is it too late to pay social security at 47?

It's too late to pay social security at 47.

According to the relevant laws and regulations, it is still feasible to start paying social security at the age of 47. In China, as long as you start to pay social security before the statutory retirement age, you can enjoy the basic old-age insurance benefits. According to the provisions of the Social Insurance Law, when an individual reaches the statutory retirement age and has paid for 15 years, he can receive a basic pension on a monthly basis. In addition, even farmers who don't have a work unit can participate in employee social security as freelancers, and the payment ratio is 20%, of which 8% is included in the personal pension account and 12% is included in the overall account. Therefore, starting to pay social security at the age of 47 is conducive to ensuring future pension collection.

Calculation of social security payment period to treatment:

1, social security payment period is one of the important factors in calculating pension;

2. The longer the payment period, the more money accumulated in the personal account and the higher the pension;

3. According to the current policy, the calculation and payment of pension usually includes two parts: basic pension and personal account pension;

4. The basic pension is related to the payment period. The longer the payment period, the higher the basic pension.

5. The personal account pension is the sum of the amount of personal contributions and the estimated number of years after retirement;

6. If the payment period is less than 15 years, you may not be able to enjoy the normal pension insurance benefits, and you need to pay back or delay retirement to meet the minimum age requirements.

To sum up, starting to pay social security at the age of 47 is a feasible measure to ensure future pension collection.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 16

Individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have paid a total of fifteen years when they reach the statutory retirement age. Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.