Important reminder! Before the end of 2022, the social insurance will be terminated once, and these qualifications will be cleared immediately!

These qualifications will be cleared immediately after the social insurance is terminated

        I. Qualification for house purchase, car purchase and point settlement

        For this article, many cities have regulations, depending on local policies. Here are some cities for your reference:

        (1) Shanghai City

        The purchase of a house not registered in registered residence shall be subject to the payment of social insurance or personal income tax for five consecutive years in Shanghai.

        (2) Jinan City

        A resident family or an adult single person must have settled down in this city for three years and be able to provide proof that he/she has paid personal income tax or social insurance for 36 months or more in this city before the day of purchase.

        (3) Guangzhou City

        Non registered residence residents who hold a valid Residence Certificate in Guangdong, have applied for valid residence registration in Guangzhou, have paid social medical insurance for employees in Guangzhou for 24 months in the past three years, and have paid social medical insurance for employees in Guangzhou in the previous month can participate in the car lottery.

        II. Continuous payment period of medical insurance

        The medical insurance has a three month buffer period from the date of suspension of payment, but if it has not been paid beyond this period, the continuous payment time will be reset and the accumulation will start again. Of course, the clearing here refers to the clearing of continuous payment time, not the balance of individual account. In addition, if the medical insurance is interrupted for more than three times, the number of consecutive payment years will be accumulated again, and medical reimbursement and other benefits will not be enjoyed during the interruption period.

        III. Employee medical insurance reimbursement qualification during the suspension period

        According to the Social Insurance Law of the People’s Republic of China:

        1. Employees newly insured or re insured after interruption of payment for more than one year shall enjoy the basic medical insurance benefits according to regulations if they have legally participated in the basic medical insurance and have continuously paid for 6 months (excluding the number of years for supplementary payment);

        2. Those who have paid for less than 6 consecutive months will not enjoy the basic medical insurance benefits;

        3. If the payment is interrupted for less than one year, the insurance company will enjoy the treatment according to the regulations after re participating in the insurance and payment;

        4. The person who interrupted the payment will not enjoy the basic medical insurance benefits during the interruption of payment.

What should I do if I leave or stop paying the social security?

        If the endowment insurance is interrupted halfway, it can be supplemented without recalculating the cumulative payment years. But even so, it will also affect your post retirement benefits. The pension calculated at retirement is also directly related to your payment duration. The longer the payment duration is, the more contributions you make, the more pensions you will receive after retirement. So it is not enough to pay 15 years!

        I. You can do this if you don’t want to break the insurance

        According to the current policy, there are two ways to pay social insurance:

        (1) Employees who have signed labor contracts with the employing unit and have labor relations with the employing unit shall pay social insurance through the unit.

        (2) Individuals without work units can go through social security registration procedures in the tax department where their registered residence is located as flexible employees.

        II. Social insurance paid on behalf

        If an individual seeks to pay social insurance from an affiliated agent company and has no labor relationship with the unit, this is illegal and not allowed by the policy.

        The Social Insurance Law clearly stipulates that anyone who defrauds social insurance benefits by fraud, falsifying evidentiary materials or other means will be ordered by the social insurance administrative department to return the defrauded social insurance benefits and will be fined not less than two times but not more than five times the amount defrauded.

After the payment of social insurance is terminated

        What should I do if I haven’t paid for 15 years?

        There are five main remedies:

        I. Annual supplementary payment

        If you reach the retirement age, there are still several years (usually three years) before you can get social insurance. You can pay it back every year, so that you can get social insurance benefits when you retire. But in this case, we must pay late fees to make up for the annual fee.

        II. Delayed retirement

        If you have reached the statutory retirement age, and the social insurance has not yet reached 15 years, you can apply for delayed retirement, up to 5 years.

        When applying for delayed retirement, you can continue to pay social insurance while working.

        III. One time supplementary payment

        Although it is convenient to pay the social security for 15 years at a time, it is unfair for those who pay the social security annually. So under the new rules, this method has been canceled.

        A lump sum payment can only be made if the following conditions are met:

        (1) Employees of state-owned enterprises and institutions who retired before 2011;

        (2) Young intellectuals who went to the countryside from 1961 to 1982;

        (3) Retirees aged 65 and 60, both male and female, had paid social insurance in the local area before 2011.

        IV. Transferred to resident social insurance

        If there is still a long time to pay 15 years, it is not cost-effective to choose to make up every year. You can also consider turning the social insurance of employees into the social insurance of residents.

        Some places can also make up the payment at one time, but this is troublesome to deal with on the one hand, and on the other hand, the treatment is lower than the social insurance for employees.

        V. Stop paying social security and take out the money

        If you haven’t paid 15 years, but don’t want to spend any more money to make up for it, you can apply for surrender, so that you don’t have to continue to pay social insurance, and the money you paid will also be refunded to you, but we don’t agree with this method. Because one consequence of this approach is that after retirement, there is no way to enjoy medical insurance and pension benefits.

Article source:Simple tax

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Fujian Quanzhiu Zhongtai IMP. AND EXP. CO., LTD. » Important reminder! Before the end of 2022, the social insurance will be terminated once, and these qualifications will be cleared immediately!

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