How do the elderly receive pensions?

To receive a pension, eligible workers need to bring relevant information to the social insurance administrative department to apply, then register, and then credit the pension into the account on time every month. Pension conditions:

1, retired;

2. The payment period reaches 15 years.

Conditions for receiving the basic pension: 1, reaching the statutory retirement age (60 years for men, 50 years for women employees and 55 years for women management positions). 2. The payment period is over 15 years or more. To receive the basic pension every month, three conditions must be met: 1, reaching the legal retirement age and having gone through the retirement formalities. 2, the insured units and individuals to participate in old-age insurance and fulfill the obligation to pay old-age insurance. 3. Individuals should pay at least 15 years.

Payment period of endowment insurance

According to the provisions of China's social endowment insurance, men who have reached the age of 60 and women who have reached the age of 55, and the accumulated payment period has reached 15, can receive the basic pension according to the regulations. If the accumulated payment period is less than 15 years, the amount stored in his personal account shall be paid to him in one lump sum, and the pension insurance relationship shall be terminated at the same time, and the payment period shall not be increased by means of overdue afterwards. Therefore, even if the old-age insurance is reissued, it is impossible for people who pay the old-age insurance normally to have a stable income every month after retirement. The old-age insurance he paid back will be given to him again and again at the age of 60, so the social security agency will generally not reissue it for him.

I hope the above content can help you. If in doubt, please consult a professional lawyer.

Legal basis:

Article 16 of the 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 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.