In addition, although social security is compulsory, there are still some small enterprises that do not pay social security to their employees. Therefore, the social security of employees in private enterprises will be paid intermittently because of such factors, which will easily lead to the extension of the social security payment period. Although the impact of the increase in social security payment period and the delay in retirement is still acceptable to most people at present, it is indeed a great impact on employees in private enterprises. Because it is different from state-owned enterprises and other institutions, once employees in private enterprises are unemployed, social security cannot be paid continuously.
In addition, although social security is compulsory, there are still some small enterprises that do not pay social security to their employees. Therefore, the social security of employees in private enterprises will be paid intermittently because of such factors, which will easily lead to the extension of the social security payment period.
Legal basis: People's Republic of China (PRC) Social Insurance Law.
Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premiums payable during the payment period shall be borne by the government.
When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.
Article 14 Individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.
Fifteenth basic pension consists of overall pension and individual account pension.
The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.