New rules for one-time payment of social security in Inner Mongolia

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. The legal retirement age in China is 60 for men and 50 for women.

Legal objectivity:

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 when they reach the statutory retirement age and have accumulated contributions for fifteen years. 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.