The first is through the pension passbook. This is also the most traditional way to receive pensions in China, but relatively speaking, the procedures for bank operation will be more complicated. Moreover, the amount of pension will be displayed in the passbook, which provides convenience for some old people with bad memories, but it may also make some people around them have bad ideas. If the passbook is accidentally lost, the relevant information inside will be leaked, and it will be more troublesome to reissue a passbook, which is relatively less secure.

The second method is to take it by bank card. It is relatively more convenient to transfer pension to bank card than to passbook, and many retirees are also used to using bank card. However, the use of bank cards will generate a large annual fee and management fee every year, probably around 20 yuan, and the cost is not high.

The third way is to get it through the social security card. Social security cards can not only inquire about personal security, but also receive pensions directly, which also saves the steps of handling passbooks or bank cards. For the elderly, it will be more concise and convenient for one card to handle multiple businesses.

At present, there are two kinds of pensions supported by national policies, one is referred to as urban and rural residents' endowment insurance, and the other is referred to as enterprise social endowment insurance.

In the case of social security, the enterprise will help you pay 14% of your salary, and you will pay 8% yourself. You can retire when you have paid for more than 15 years and reach the legal retirement age.

legal ground

Social insurance law

Tenth employees should participate in the basic old-age insurance, the basic old-age insurance premiums paid by the employer and employees.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.

Eleventh basic old-age insurance to implement the combination of social pooling and individual accounts.

The basic old-age insurance fund consists of employers, individual contributions and government 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.

Sixteenth individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.

Seventeenth individuals who participate in the basic old-age insurance, due to illness or non-work-related death, their survivors can receive funeral grants and pensions; Persons 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.