The social pension insurance for farmers is paid by the rural insurance agency.

The issuance of social security funds on behalf of banks means that banks issue social security fund funds on their behalf.

Pension insurance funds are not directly distributed to individuals by the Social Security Bureau.

Pension insurance funds are currently managed by banks, and are distributed to the bank cards of the parties concerned in full and on time every month by the designated agent bank of the local social security institution.

The money distributed by the rural insurance agency is the basic pension insurance for people over 60 years old in rural areas.

Pension insurance benefits are not directly distributed to individuals by the Social Security Bureau.

Because pension insurance funds are managed by banks, you can simply entrust the bank to assist with the final disbursement.

There is no need to take it out anymore, it is issued to individuals.

Characteristics of pension insurance: 1. Mandatory.

The state has passed legislation to force employers and individual workers to participate in pension insurance in accordance with the law, fulfill the rights and obligations conferred by the law, and pay pension insurance premiums. When workers reach the legal retirement age, they can receive basic pensions from the social insurance department.

Enjoy basic pension insurance benefits to protect your basic life after retirement.

2. Mutual benefit.

The source of pension insurance expenses is generally borne by the state, enterprises or units, and individuals, and social coordination and mutual assistance of pension insurance expenses are realized at a higher level and within a larger scope.

3. Universality.

Everyone has old age, which is a necessary stage of life.

The issue of elderly care is not only a social issue, but also a global issue. It is related to the economic and cultural development of a country or society and requires us to pay sufficient attention.

Since the implementation scope of pension insurance is very wide, the insured enjoys benefits for a long time, and the scale of expenses is huge, therefore, the government must set up a special agency to unify legislation, rules, management and organization and implementation in the whole society.