What should I do if I can't afford the old-age insurance?

1. If you can't pay at present, you can postpone payment until you have money or re-employment later.

If you don't plan to pay in the future, you will have to wait until retirement age to apply for a refund. Social security can only reach the statutory retirement age (male 60 years old, female 50 years old), and the payment reaches the prescribed minimum cumulative payment period 15 years, before going through retirement procedures and enjoying the monthly pension treatment.

3. If the cumulative payment period is less than 15 years, the residents at the place where the household registration is located can pay the minimum payment period in one lump sum. After the retirement formalities are delayed, the monthly pension benefits will not be affected.

4. If the accumulated payment period is less than 15 years, non-registered residents can only receive the full amount and interest of the individual payment account at retirement age.

Extended data:

Article 16 of the National Social Security Law stipulates that 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 paid for 15 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. After paying 15 of the social security fund, you can meet the conditions for receiving a pension, even if you have to retire for several years.

Because they meet the conditions for receiving a pension, they can go through retirement formalities according to law when they reach the legal retirement age, but the calculation base of the pension is the social salary in the last year of paying social insurance premiums.

Moreover, the state implements the policy of paying more and getting more, and the pension payment standard is closely related to the payment period. The longer the general pension insurance payment period, the more pensions there will be.

References:

Baidu encyclopedia-endowment insurance