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Can I transfer back to my hometown when I pay social security in Zhejiang?
Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC). 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.
Article 8 of the Interim Measures for the Transfer and Continuation of the Basic Old-age Insurance for Employees in Urban Enterprises states that if the insured person is employed across provinces, the basic old-age insurance transfer and continuation procedures shall be handled according to the following procedures: (1) After the insured person establishes the basic old-age insurance relationship in the new employment place according to the regulations and pays the fee, the employer shall submit a written application for the transfer and continuation of the basic old-age insurance relationship to the social security agency. (2) The social security agency of the newly insured place will review the transfer and continuation application within 15 working days, send a consent letter to the insured person if it meets the requirements, and provide relevant information; For those who do not meet the transfer conditions, make an explanation. (3) The social security agency where the original basic old-age insurance relationship is located shall handle all the transfer and connection procedures within 15 working days after receiving the acceptance letter. (4) After receiving the basic old-age insurance relationship and funds transferred by the social security agency where the insured person's original basic old-age insurance relationship is located, the social security agency in the newly insured place shall complete the relevant procedures within 15 working days, and notify the employer or the insured person in time.
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