after the death of a person who has bought old-age insurance, although he can no longer enjoy the old-age insurance benefits, his family members or heirs may enjoy some compensation or pension measures according to local policies and regulations.

I. Basic concept of old-age insurance

Old-age insurance is a social security system, which aims to provide basic living security for workers after reaching the statutory retirement age or losing their ability to work. By paying the endowment insurance fee, the insured can receive a pension when certain conditions are met.

Second, compensation or pension measures in the old-age insurance system

Although the old-age insurance is mainly to ensure the quality of life of the insured, after the death of the insured, his family members or heirs may enjoy some compensation or pension. The specific contents of these measures vary according to different regions and policies, but they usually include the following:

1. Funeral subsidies: Some regions or units will provide a certain amount of funeral subsidies to the deceased endowment insurance participants to help their families pay funeral expenses.

2. Survivor's pension: eligible survivors, such as spouses and children, may receive a pension for a certain period of time to alleviate the pressure of life caused by the loss of their main source of income.

3. Return of personal account balance: If the insured person dies before receiving the pension, the balance in his personal account for pension insurance may be returned to his successor.

It should be noted that these compensation or pension measures are not universal, but are based on local policies and regulations. Therefore, it is necessary to inquire and understand whether there is compensation and how much compensation, according to the relevant policies of the insured's location.

To sum up:

After the death of the person who bought the old-age insurance, although he can no longer enjoy the old-age insurance benefits, his family members or heirs may enjoy some compensation or pension measures according to local policies and regulations. These measures are designed to help survivors cope with the difficulties brought about by the loss of their main source of income. However, the specific compensation content and standards vary with different regions and policies, so it is suggested that the insured or their families consult the local social security department or relevant institutions when necessary to obtain the most accurate information.

Legal basis:

Article 17 of the Social Insurance Law of the People's Republic of China

stipulates:

If an individual who participates in the basic old-age insurance dies due to illness or non-work, his survivors can receive funeral grants and pensions; Those who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance. The required funds are paid from the basic old-age insurance fund.