Guangdong Qingyuan social security center

Relevant explanations of Qingyuan Social Insurance Fund Administration on individuals purchasing social security.

According to the Notice on Identifying Persons with Employment Difficulties, those who have the ability and willingness to work within the legal working age, apply for the Employment Unemployment Registration Certificate, are unemployed, and have household registration in this city can be included in the scope of persons with employment difficulties. Specific matters shall be examined and handled by the Municipal Re-employment Service Center. Tel: 0763-3788397.

According to the Social Insurance Law of People's Republic of China (PRC): "Individuals who participate in the basic old-age insurance will receive the basic pension on a monthly basis when they reach the statutory retirement age." You can't get a pension when you are 60. As you said, when you are 60 years old, you can choose from two options: 1. Apply for surrender and terminate the pension insurance relationship at the same time. 2. According to the Notice of Guangdong Provincial People's Government on Implementing the State Council's Decision on Improving the Basic Old-age Insurance System for Enterprise Employees (Yue Fu [2006] No.96): "If the insured registered in this province reaches the retirement age stipulated by the state but fails to receive the basic old-age pension on a monthly basis, they shall not apply for the one-time basic old-age insurance benefits, but continue to pay according to the payment base and rate of urban individual industrial and commercial households and flexible employees until they meet the conditions of receiving the basic old-age insurance premium on a monthly basis". Those who have reached the age of 65 and the payment period has not reached the 15th anniversary can apply for a one-time payment of the old-age insurance premium for 15 years in accordance with the Notice on Perfecting the Relevant Provisions on Continuing to Pay the Basic Old-age Insurance for Enterprise Employees (Guangdong People's Social Development [2011] No.37).

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.