According to the Social Insurance Law of People's Republic of China (PRC):
Sixteenth 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 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.
Extended data:
According to the Social Insurance Law of People's Republic of China (PRC):
Article 14 Individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.
Seventeenth individuals who participate in the basic old-age insurance, due to illness or non-work-related death, their survivors can receive funeral grants and pensions; Persons who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance. The required funds are paid from the basic old-age insurance fund.
According to the implementation of People's Republic of China (PRC) Social Insurance Law:
second
When individuals who participate in the basic old-age insurance for employees reach the statutory retirement age, if the accumulated payment is less than fifteen years, the payment may be extended to fifteen years. After the implementation of the Social Insurance Law, if the payment is extended for five years but still less than fifteen years, it can be paid in one lump sum for fifteen years.
essay
Individuals participating in the basic old-age insurance for employees who have paid less than fifteen years after reaching the statutory retirement age (including extending the payment in accordance with the provisions of Article 2) may apply for participating in the new rural social endowment insurance or urban residents' social endowment insurance at their domicile.
Enjoy the corresponding pension insurance benefits. After the individual who participates in the basic old-age insurance for employees reaches the statutory retirement age, the accumulated payment is less than fifteen years (including extending the payment in accordance with the provisions of Article 2).
And not transferred to the new rural social endowment insurance or urban residents' social endowment insurance, individuals can apply in writing to terminate the basic old-age insurance relationship for employees. After the social insurance agency receives the application.
They shall be informed in writing of their right to transfer to the new rural social endowment insurance or urban residents' social endowment insurance and the consequences of terminating the basic endowment insurance relationship for employees. After my written confirmation, I will terminate the employee's basic old-age insurance relationship and pay me the amount stored in my personal account in one lump sum.
Baidu Encyclopedia-People's Republic of China (PRC) Social Insurance Law