What if the social security is less than 15 at retirement age?

1. What if the social security is insufficient 15 at retirement age?

1, retirement social security dissatisfaction15th anniversary is handled in the following ways:

(1) Individuals participating in the basic old-age insurance who have paid less than fifteen years when they reach the statutory retirement age can receive the basic pension on a monthly basis until they reach fifteen years;

(2) Transfer to the new rural social endowment insurance or urban residents' social endowment insurance, and enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.

2. Legal basis: Article 16 of the Social Insurance Law of People's Republic of China (PRC).

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. Twenty-first new rural social endowment insurance benefits are composed of basic pension and personal account pension. Rural residents who participate in the new rural social endowment insurance meet the conditions stipulated by the state and receive the benefits of the new rural social endowment insurance on a monthly basis.

2. What are the collection methods of social insurance premiums?

1, proportional insurance system. This method is based on the wage income of the insured, and a certain proportion is stipulated to collect insurance premiums. Adopting the proportional system, the initial main purpose of social insurance is to compensate the income lost by the insured in risk accidents in order to maintain their minimum living. Therefore, we should refer to his usual income, on the one hand, as a standard to measure payment, on the other hand, as the basis for premium calculation. The biggest drawback of the work-based proportional insurance system is that the burden of social insurance is directly related to wages. Whether employers and employees bear social insurance premiums or one of them bears social insurance premiums, the burden of social insurance is manifested in the increase of labor costs, which will lead to capital crowding out labor, thus leading to an increase in unemployment;

2. Equal insurance premium system. That is, regardless of the income of the insured or his employer, the insurance premium of the same amount should be charged. Countries that collect insurance premiums in this way generally adopt an equal share system when paying fees, which has the significance of equal income and expenditure. But its defect is that low-income people and high-income people pay the same premium, which is obviously unfair in terms of affordability.