New Provisions of the Social Security Law of 2023

In 2023, the new policy of social security subsidies was introduced, including annual payment, extension of retirement age, conversion to social security for residents, social security withholding, withdrawal of money, and one-time payment.

1, paid annually.

If the user reaches the legal retirement age, but there are still a few years before the personal social security will reach 15, the user can pay it once a year, so that the user can get social insurance benefits when he retires, but the user needs to pay a late fee to pay the annual fee.

2. Extend the retirement age

If the user has reached the retirement age in China, but the social insurance has not reached 15, then he can apply for extending the retirement age for up to 5 years.

3, into the social security of residents.

If the payment time is long 15 years, we can consider changing employee social insurance to resident social insurance.

4. Pay off the social security and take out the money.

If the social security payment has not been completed for fifteen years, but the user does not want to continue to pay, then the user can apply for a refund. But after retirement, you can't enjoy the protection of social insurance benefits.

5. One-time payment

As long as certain conditions are met, repayment can be made.

Legal basis:

Article 28 of People's Republic of China (PRC) Social Insurance Law

Medical expenses that meet the basic medical insurance drug list, diagnosis and treatment items, medical service facilities standards and emergency rescue shall be paid by the basic medical insurance fund in accordance with state regulations.

Article 29 of People's Republic of China (PRC) Social Insurance Law

The medical expenses of the insured shall be paid by the basic medical insurance fund, and shall be directly settled by social insurance agencies, medical institutions and pharmaceutical business units. The administrative department of social insurance and the administrative department of health shall establish a settlement system for medical expenses in different places to facilitate the insured to enjoy the basic medical insurance benefits.