China's old-age insurance system has a dual-track system of pooling accounts and individual accounts. After 15 years of payment, retirement can receive old-age pension, as specified below:

Social Insurance Law of the People's Republic of China

Article 12 An employer shall pay the basic old-age insurance premium in proportion to the total wages of its employees as stipulated by the state and record it in the basic old-age insurance pooling fund.

employees should pay the basic old-age insurance premium according to the proportion of their salary stipulated by the state and record it in their personal accounts.

individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual account respectively.

Article 16 Individuals who have participated in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for fifteen years when they reach the statutory retirement age.

individuals who have participated in the basic old-age insurance and have paid less than fifteen years when they reach the statutory retirement age can pay for it until they have reached 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 information

Provisions on the legal retirement age:

Interim Measures of the State Council on Retirement and Resignation of Workers

Workers in enterprises and institutions owned by the whole people, party and government organs and mass organizations should retire if they meet one of the following conditions.

(1) The male has reached the age of 6, the female has reached the age of 5, and the accumulated working experience has reached ten years;

(2) Men who have reached the age of 55, women who have reached the age of 45, and have accumulated ten years of service, are engaged in underground, high altitude, high temperature, particularly heavy manual labor or other jobs harmful to health;

(3) Men who have reached the age of 5, women who have reached the age of 45, and have accumulated working experience of 1 years, who are certified by the hospital and confirmed by the labor appraisal committee, shall be allowed to retire.

Baidu encyclopedia-legal retirement age