Pension insurance needs to be paid for 15 years before retirement. However, there are also some people who have exceeded the retirement age due to various reasons. The endowment insurance hasn't been paid for 15 years and they can't handle retirement. So can endowment insurance be paid in one time?
So beyond the retirement age, can you make up the endowment insurance at one time?
China's endowment insurance system is divided into: urban workers' Endowment Insurance and urban and rural residents' endowment insurance. Whether we can make up one-time payment depends on what kind of endowment insurance we pay.
01
For example, people who pay urban residents and rural endowment insurance before retirement can apply for one-time supplementary payment, but they need to be in the place where their registered permanent residence is located. Only if there is a supplementary payment policy in the place where your account is located can you make a one-time supplementary payment.
However, due to the tightening of policies, most of the first and second tier cities and provinces in the country do not support the one-time supplementary payment of urban workers. But for some cities that have already paid 10-year endowment insurance but less than 15 years at the retirement age, they can make up one-time payment or continue to pay and extend the payment to meet the conditions of 15 years before retiring.
02
However, the difficulty of making up endowment insurance for urban and rural residents is much lower than that for urban employees. Most of the people who didn't pay endowment insurance for 10 years before retirement will be transferred to urban and rural residents, so that they can get it directly when they retire without delay or paying a lot of money for making up endowment insurance, but the disadvantage is that the pension for urban and rural residents is large Much lower than the pension of urban employees!
There are not many people and amount paid for endowment insurance of urban and rural residents at present! In 2016, the expenditure and income of endowment insurance of employees were 2.5 trillion and 2.2 trillion respectively, and the expenditure and income of endowment insurance of residents were only 21 million and 7.3 million, that is, 5-10% of the expenditure and income of endowment insurance of employees. In the past seven years, the state has subsidized a total of 2.2 trillion yuan for urban and rural residents' medical care and pension, so in the future, the state will vigorously develop urban and rural residents' insurance to help low-income people establish a better medical and pension system!
03
Endowment insurance can make people have a stable income after retirement. As an important economic support after retirement, although it may be hundreds to thousands of dollars, it is also a stable personal income guaranteed by a country. In order to live a stable life in old age, we really need to plan ahead of time.