The old-age insurance system for enterprise employees in China was established in the early 1950s, and has been revised twice by 1958 and 1978. At that time, due to historical and policy reasons, enterprises were of course limited to enterprises with complete ownership. It was not until 1995 that the state extended the payment scope of endowment insurance to all kinds of enterprise employees and urban self-employed workers.

Pension conditions for enterprise employees

1, reaching the statutory retirement age, men over 60 years old, female employees over 50 years old and female cadres over 55 years old;

2. Retirement procedures have been completed;

3. Enterprises and employees shall pay basic old-age insurance premiums according to regulations;

4. The individual payment period is over 15 years and above.

Old-age conditions for urban and rural residents

1, over 60 years old;

2. Accumulated payment is over 15 years;

3, did not receive the basic old-age security benefits stipulated by the state.