With the emergence of China's aging phenomenon, the state actively introduces policies to ensure that the residents' endowment insurance can play a role. After paying the endowment insurance, the residents who reach the retirement age can receive the living expenses every month, so that their life can be guaranteed. How many years old can I take part in the endowment insurance for urban and rural residents? What are the conditions for pension? Let's have a look.
When you reach retirement age, you can pay again.
Pension conditions:
The individual that participates in basic endowment insurance, when reaching legal retirement age, accumulative total contribution is full 15 years, can receive basic annuity by the month. In other words, employees who participate in the endowment insurance must meet two conditions to receive the pension: one is to reach the legal retirement age; the other is to pay the endowment insurance for 15 years. The so-called statutory retirement age refers to the age at which employees quit their jobs and are eligible for pension.
According to relevant regulations, China's legal retirement age for enterprise employees is: 60 years old for men, 50 years old for women workers and 55 years old for women cadres. For those engaged in underground, high altitude, high temperature, especially heavy manual labor or other work harmful to health (hereinafter referred to as special type of work), the retirement age shall be 55 years old for men and 45 years old for women; for those who are disabled due to illness or non work, and are certified by the hospital and confirmed by the labor appraisal committee to be totally incapacitated, the retirement age shall be 55 years old for men and 45 years old for women.