Nowadays, the pensions of state-owned enterprise employees after retirement are uniformly distributed by the social security department. Employees must meet three conditions to receive basic pensions on a monthly basis: 1. They have reached the legal retirement age and have gone through the retirement procedures; 2. Their units and individuals participate in pension insurance in accordance with the law and have fulfilled their pension insurance payment obligations; 3. Individual contributions must be at least full 15 years.

Legal Basis

Article 26 of the "Social Insurance Fund Accounting System" The basic pension insurance fund expenditures for urban and rural residents include pension insurance benefit expenditures, transfer expenditures, subsidies to subordinate expenditures, and transfers to superiors Superior expenditures and other expenditures. Pension insurance benefit expenditures include basic pensions and personal account pensions paid to insured urban and rural residents as required, as well as funeral subsidies. Basic pensions refer to pension benefits that are calculated and paid according to prescribed standards and fully subsidized by finance at all levels to insured urban and rural residents who meet the conditions for receiving benefits. Personal account pension refers to the pension benefits paid to insured urban and rural residents when they meet the conditions for receiving pension insurance benefits, based on the total savings in the personal account divided by the number of payment months, as well as a one-time payment from the personal account. One-time expenditures of personal accounts refer to the expenditures of individuals participating in the basic pension insurance for urban and rural residents who return their personal account savings due to death, settlement abroad, and repeated payment of basic pension insurance for enterprise employees and basic pension insurance for urban and rural residents. Funeral subsidy refers to the subsidy provided by the government to the surviving family members for funeral expenses after the death of the insured person in areas where the funeral subsidy system has been established. Transfer expenditure refers to the amount of personal account funds transferred out across coordinating regions or across systems.

Warm reminder

The above answers are only based on the current information and my understanding of the law. Please refer to it with caution!

If you still have questions about this issue, it is recommended that you sort out the relevant information and communicate with professionals in detail.