According to Article 12 of the "Social Insurance Law": Flexibly employed persons who participate in basic pension insurance must pay basic pension insurance premiums in accordance with national regulations, and credit them to the basic pension insurance pooling fund and personal account respectively.

So you pay 20% of the base, and 12% of this 20% (accounting for 60% of the payment) is included in the basic pension insurance pooling fund. This part is used to pay basic pensions to current retirees, 8%

(Accounting for 40% of the payment amount) is credited to your personal account, and this part will be used to pay your personal account pension after retirement.

Pension insurance premiums are paid by yourself at 20% of the base.

12% of this amount goes into social pooling funds and 8% goes into personal accounts.

If it is all put into a personal account, then it cannot be called social pension insurance, but is saved for retirement. Social pension insurance has the characteristic of "social mutual aid", that is, most of the money you pay now will be used for current retirees.

If a basic pension is paid, after you retire, the money paid by the staff will be used to pay your pension.

If you have not paid for 15 years after reaching the retirement age and do not meet the conditions for enjoying pensions, the policy allows you to extend your payment. If you extend your payment for five years and have not yet completed 15 years, the policy allows you to make a one-time back payment.

Therefore, it is recommended that you adopt the extended payment method and pay for 15 years. Otherwise, when you reach retirement age, you will only be able to return 40% of your full payment, which is not cost-effective.

Attachment: Article 2 of the "Details of the Social Insurance Law" When an individual participating in the basic pension insurance for employees reaches the legal retirement age, if the cumulative payment is less than fifteen years, the payment can be extended to the full fifteen years.

If the social insurance law was implemented before the implementation of the social insurance law and the extension of payment for five years is still less than fifteen years, one-time payment can be made until the full fifteen years.