At the end of our lives, we all face an important life event --- retirement. However, while everyone is going to be at this stage, many people have little understanding of the rules, processes and implications of retirement.
There is a common misconception that as long as you reach the legal retirement age, you can receive a pension directly. However, the process is not that simple. There are actually some conditions that need to be met for retirement, and a place of retirement needs to be determined.
1. Retirement conditions
Before we embark on the road to retirement, we must first be clear that age alone is not enoughThere are two basic elements of retirement: the statutory retirement age and a social security record of 15 consecutive years of contributions.
China's labor law stipulates that, under normal circumstances, female employees can start receiving pensions at the age of 50 and male employees at the age of 60. However, if you are a female employee in a managerial and professional technical position, you need to reach the age of 55 before you can retire and receive a pension.
For flexible workers, there is generally no specific statutory retirement age, women need to reach 55 years and men need to reach 60 years to apply for a pension.
For employees engaged in special types of work, as long as they meet the corresponding length of service requirements, they can receive a pension 5 years in advance.
If you are unable to work due to illness, you can go through the procedures for sick discharge, but you need to be assessed by the labor ability appraisal department and get the relevant conclusion.
2. How to choose a place to retire?
There may be a misunderstanding that you can choose where you want to retire. In fact, we first need to familiarize ourselves with a concept –"The ten-year principle"。
After 10 years of continuous social security contributions in the same city and it is not a temporary account, you are eligible to retire in this city, and at the same time, social security from other places can also be transferred here.
However, if you have a record of meeting the 10 years of contributions in both cities, then you can choose to retire in the city where you last achieved the 10 years of contributions.
Another strategy is that if you've been paying social security in your place of residence, it's easier to handle your retirement. In other words, you only need to retire in the place where you are registered.
However, if you have not paid social security in the registered population and have not met the contribution standard in other cities for more than 10 years, then you may need to transfer social security funds from each city to your place of residence.
Remember, you need to complete the transfer and merger of social security and health insurance before you go through the retirement process to ensure that it does not affect the retirement application process.
3. Who will handle the retirement procedures?
Once we have defined the conditions and location of retirement, the next step is to consider how to start the retirement process. It mostly depends on what status of employee you are.
The retirement process is usually not cumbersome, and can be broadly divided into three situations.
For employees of an enterprise, the relevant procedures for retirement are generally handled by the employing unit; If you have paid social insurance during your employment, but then leave your job, you will need to go through the relevant procedures yourself when you retire. For those who have paid the corresponding fees as freelancers, the retirement procedures will also need to be handled by themselves.
4. Documents required for retirement procedures
Depending on the nature of your profession, the documents that need to be submitted are not exactly the same.
For employees of state-owned enterprises, you need to submit a personal file, which is mainly used to review retirement age, occupation, etc. Especially for female employees, it is also necessary to confirm whether they are in a managerial position.
For retirees in special occupations, many localities are still required to show their pay records for the period of work in the special occupation.
Employees of private companies who are not involved in a specific type of work or who are related to their years of service do not have to submit personal data documents. However, they must present the original and photocopy of their ID card and household register, as well as relevant proof, including a social security card or pension payment register.
For self-employed businesses or flexibly employed persons, the original and copy of the ID card, as well as relevant certificates such as personal ** and household registration book, are required.
In addition, if you have a special incentive policy, such as a retirement incentive for parents of only children, you need to prepare the corresponding certificates.
5. How long does it take to receive the treatment after completing the formalities?
If you do not apply immediately after reaching the normal or deferred retirement age, then your pension will be paid from the month following the month of your official application, which may result in your retirement benefits being delayed.
Therefore, it is very important that the retirement application must be submitted in the month of retirement to avoid delays in the payment of pensions. Once the retirement process is complete, pension benefits can begin to be available from the following month of retirement.
Write at the end
Retirement is not an easy task, it involves not only the law, but also a major decision involving finance, family, and even life happiness.
Only when we have a clear understanding of the relevant rules can we make the best decisions and plan for a happy and comfortable retirement.