Retire by length of service or payment period

Retirement benefits are calculated according to the payment period. When employees retire, the basic pension does not depend on the calculation period, but is calculated according to the payment period. Under normal circumstances, the continuous length of service should be equal to the payment period, but in practice, it is inevitable that the payment is not in place, and the length of service is often different from the payment period. Pension payment period is at least 15 years. If the accumulated payment is over 15 years, the basic pension will be received monthly. If there is a unit, even if the employees have paid for 15 years, the enterprise will continue to pay until retirement. Individuals who pay social security can stop paying or continue to pay.

Retirement conditions:

1, male over 60 years old, female over 50 years old, continuous service 10 years or more;

2, engaged in underground, high altitude, high temperature, particularly heavy manual labor or other jobs harmful to health, men over 55 years of age, women over 45 years of age, continuous service 10 years. This provision also applies to grassroots cadres with the same working conditions as workers;

3. Men over 50 years of age and women over 45 years of age, with continuous service 10 years or more.

To sum up, retirement is calculated according to the payment period. Pay the basic old-age insurance premium according to the payment period. When enterprise employees retire, the retirement benefits are not calculated according to calculate length, but according to the payment period. Before the reform of the local basic old-age insurance system, the continuous length of service of employees of state organs, institutions and state-owned and collective enterprises at or above the county level shall be regarded as the payment period.

Legal basis:

Article 16 of People's Republic of China (PRC) Social Insurance Law

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 can receive the basic old-age pension on a monthly basis if they pay less than fifteen years when they reach the statutory retirement age. 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.