At the first meeting of the Tenth People's Congress of Guangdong Province this year, Song et al. 14 deputies to the Provincial People's Congress submitted the above amendment proposal at the first meeting of the Tenth People's Congress of Guangdong Province held not long ago. It is pointed out in the motion that Article 15 of the provincial regulations stipulates that if you work after 1 July 1998 1 day, you will reach the statutory retirement age, and the cumulative payment period will exceed 15 days, or before1July 19981day (excluding today). Delegates pointed out that this way that employees with foreign household registration can enjoy pensions has increased the pressure on pension funds in cities in Guangdong Province.
In addition, taking Shenzhen as an example, migrant workers are relatively young, working in Shenzhen for a short time, and most of them have no intention of staying in Shenzhen. They just hope to get some compensation when they leave Shenzhen to facilitate their future production and life. Therefore, the deputies suggested that the Provincial People's Congress amend the "Provincial Regulations" and refund the pension of migrant workers at one time.
In this regard, the Provincial Social Security Department stressed that according to the current regulations, for some foreign employees who do not intend to stay in the working city for the elderly, if they have moved their household registration according to the current regulations, their pension insurance relationship and personal accounts can be transferred to the household registration; If the old-age insurance is not carried out at the place where the household registration is located, the individual payment can be refunded once and the old-age insurance relationship can be terminated upon his own application.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.