The pension insurance will not be invalidated if it is not paid off.
Because pension insurance can be accumulated to calculate the payment period, it can be renewed at any time. After 15 years of contribution and reaching the statutory retirement age, the basic pension can be received every month. If you have reached the retirement age and paid less than 120 months, you will be forced to surrender your insurance, and the money will be returned to the balance of your personal account.
Several important time points for pension insurance payment:
1. The minimum payment is 180 months (15 years) before receiving the pension monthly after retirement.
2. The selection standard of retirement place has the principle of "from the rear". The last place that has completed 10 years will be your final retirement city. If you have been in several cities for less than 10 years, your retirement place will be in your domicile.
Legal basis
Article 2 of the Full Text of the Social Insurance Law of the People's Republic of China, the state establishes social insurance systems such as basic endowment insurance, basic medical insurance, work-related injury insurance, unemployment insurance, maternity insurance, etc., to protect citizens' rights to material assistance from the state and society in accordance with the law in cases of old age, disease, work-related injury, unemployment, maternity, etc.
Article 4 of the Full Text of the Social Insurance Law of the People's Republic of China, employers and individuals within the territory of the People's Republic of China who pay social insurance premiums according to law have the right to inquire about payment records and individual rights and interests records, and require social insurance agencies to provide social insurance consulting and other related services.
Individuals enjoy social insurance benefits according to law and have the right to supervise their own contributions.
Article 5 of the Full Text of the Social Insurance Law of the People's Republic of China, the people's governments at or above the county level incorporate social insurance undertakings into their national economic and social development plans.
The state raises social insurance funds through multiple channels. The people's governments at or above the county level shall give necessary financial support to social insurance undertakings.
The State supports social insurance through preferential tax policies.
