When individuals who participate in the basic old-age insurance for employees reach the statutory retirement age, if the accumulated payment is less than fifteen years, the payment may be extended to fifteen years. After the implementation of the Social Insurance Law, if the payment is extended for five years but still less than fifteen years, it can be paid in one lump sum for fifteen years.

Extended data:

Restrictions on social security payments:

According to Article 58 of the Social Insurance Law, the employing unit shall handle the social insurance registration for employees within 30 days from the date of employment. If the social insurance has not been registered, the social insurance agency shall verify the social insurance premium it should pay.

Article 63 If an employer fails to pay social insurance premiums in full and on time, the social insurance premium collection agency shall order it to pay or make up within a time limit.

Under normal circumstances, the time limit for paying back insurance depends on the social insurance premium collection agencies and enterprises.

Social security reimbursement:

1. medical reimbursement: the deductible line paid by the basic medical insurance pooling fund is determined according to about 10% of the average salary of employees in this city in the previous year. The medical expenses incurred by an individual in hospitalization for the second time or later in a year, the Qifubiaozhun is determined according to about 5% of the average salary of employees in this city in the previous year.

2, the basic medical insurance fund in a year to pay employees and retirees medical expenses of the cumulative maximum payment limit according to the city's average wage of workers in the previous year about 4 times to determine.

3, the basic medical insurance fund to pay medical expenses set settlement cycle.

4. The settlement period is set according to the hospitalization time of employees and retirees, the time of radiotherapy and chemotherapy for malignant tumors, the time of renal dialysis after renal transplantation and the time of outpatient treatment with anti-rejection drugs.

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