Social security old-age subsidy policy

Legal analysis: the living allowance for the elderly aged 80 and above who participate in the basic old-age insurance for urban and rural residents, and the old-age allowance for the elderly aged 100 and above are unified into the old-age allowance.

Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC) stipulates that individuals who have participated in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for 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.