The latest policy on making up social security contributions in 2022

2022 China's latest regulations on making up social security contributions:

Only the following two categories of people can make a one-time retroactive contribution.

Firstly, those who applied for social security before July 1, 2011 can make retroactive contributions, and secondly, you have paid five years of pension insurance by the time you reach retirement age. Only if both of these conditions are met can you make a one-time retroactive contribution. We can choose to use a one-time retroactive social security contributions. But the one-time replacement contribution is not suitable for all people, so on this basis, the relevant state departments have proposed three options that are more acceptable to everyone.

First, people can make up social security contributions on an annual basis until retirement. It's a bit more cumbersome to make yearly retroactive contributions than to make a one-time retroactive contribution, but it's a practical solution to ensure fairness.

The next step is to delay retirement, but only for a maximum of five years. If we still don't meet the minimum conditions for paying social security when we reach retirement age, we can explain the situation to the relevant authorities and continue to make up for the social security payments until we have paid the full 15 years of social security. So that after the payment of social security can be in accordance with the relevant provisions of the pension.

Finally, you can also choose to withdraw from the social security, and then receive the balance of the social security account. According to the new social security regulations of 2022, the explanation of this method, we can know that if we withdraw directly from the social security, we can receive a large sum of money, and the state also promises to give a subsidy amount, these two parts of the money add up to a very attractive, but in this case, we don't have to pay the social security in the future, and we can't receive the pension after retirement.