Parents are 48 years old, is it cost-effective to buy social security at their own expense?

As we all know, social security must be paid continuously for 15 years before you can receive a pension. If you start paying at the age of 48, you will be 63 years old after 15 years, that is, you can only get a pension at the age of 63. However, the retirement age of Chinese courts is 60 for men and 55 for women, which means that you can't pay 15 years before retirement.

Can I pay social security at the age of 48?

However, there is another way to participate in insurance, which is to pay 15 years in one lump sum, so that you can receive a pension immediately after retirement. In addition, if the insured reaches retirement age and the pension insurance contribution is less than 15 years, he can apply for personal social security contribution to 15 years, that is, postpone retirement.

If the insured before the implementation of the Social Insurance Law and the extension of payment is less than 15 years after 5 years, it can be paid to 15 years in one lump sum. Therefore, even at the age of 48, you can buy social security.

Is it worth buying social security at 48?

If you are worried about insufficient payment, you can choose a one-time payment. However, this is a lot of money. If the economic conditions are ok, it is recommended to pay in one lump sum, because it is still very cost-effective to have money every month after retirement.

Therefore, with the growth of age, even if you are 48 years old, it is necessary to buy a social security.