1. Submit an application: individuals need to submit an application for pension withdrawal to their employer or social security institution. You need to provide personal identification, bank card information, proof of old-age insurance and other related materials when applying.
2. Review the application: the unit or social security agency will review the application materials to verify the personal identity and the payment of endowment insurance.
3. Confirm the withdrawal amount: after the approval, the unit or social security agency will calculate the withdrawal amount of individual pension according to the individual payment and confirm it with the individual.
4. Handling procedures: individuals need to go to the bank to handle the withdrawal procedures, fill out the withdrawal application form and provide relevant materials, such as ID cards and bank cards.
5. Pensions: After the approval of the bank, individuals can receive pensions at designated bank outlets.
The conditions for receiving a pension are:
1, has reached the statutory retirement age and has gone through retirement procedures;
2, units and individuals to participate in old-age insurance and fulfill the obligation to pay old-age insurance premiums;
3. The individual payment is at least 15 years (the payment period in the transition period includes the deemed payment period).
To sum up, there are certain restrictions and regulations on individual pension withdrawal. For example, the withdrawal amount cannot exceed 50% of the balance of the individual pension account, and it can be withdrawn at most once a year. In addition, the extraction of personal pension also needs to comply with relevant laws, regulations and policies. Therefore, before withdrawing personal pension, it is recommended to consult relevant institutions or professionals to understand the specific withdrawal regulations and procedures.
Legal basis:
Article 38 of the Regulations on Social Endowment Insurance shall be paid from the month after the insured receives the basic pension monthly. If the insured reaches the statutory retirement age during his sentence, he will suspend the payment of pension insurance benefits, and will pay pension insurance benefits according to regulations after the expiration of his sentence. The insured who receive the basic pension on a monthly basis (including those who have settled abroad) are certified once a year and receive social insurance benefits. Failing to provide valid proof, the pension insurance benefits will be suspended. If it is confirmed that it is still alive, it will be reissued. Article 39 If the insured dies while receiving the basic pension on a monthly basis, the social security institution shall pay the funeral subsidy and the pension for supporting the immediate family members in one lump sum. Funeral expenses shall be paid at 3 times of the average monthly salary of employees in the city (district) where they enjoy the pension insurance benefits at the time of their death; The pension shall be paid to the immediate family members who support them according to nine times the average monthly salary of the employees in the city (district) where they enjoy the old-age insurance benefits at the time of their death. Funeral grants and pensions are paid by the endowment insurance fund. Fortieth basic pension should be paid in full and socialized monthly in the form of money. If the pension insurance benefits are in arrears, the interest and principal during the arrears period will be reissued.