The Labor Law Consulting Office said that currently, according to the 2024 Social Insurance Law, if employees who have met the conditions to receive a pension continue to pay social insurance, the one-time allowance when retiring will be enjoyed for the years of contribution higher than regulations.
Based on Article 68 of the 2024 Law on Social Insurance, regulations on one-time allowances upon retirement for compulsory social insurance participants are as follows:
1. Male workers with social insurance contributions of more than 35 years, female workers with social insurance contributions of more than 30 years, when retiring, in addition to pensions, are also entitled to a one-time allowance.
2. The level of one-time allowance for each year of contribution higher than specified in Clause 1 of this Article is equal to 0.5 times of the average salary as the basis for social insurance contributions specified in Article 72 of this Law for each year of contribution higher than reaching retirement age according to the provisions of law.
In case employees have met the conditions for enjoying pensions according to the provisions of Articles 64 and 65 of this Law and continue to pay social insurance, the allowance level is equal to 2 times the average salary level used as the basis for social insurance contributions specified in Article 72 of this Law for each year of contribution exceeding the number of years specified in Clause 1 of this Article from the time of reaching retirement age according to the provisions of law to the time of retirement.
At the same time, based on Article 100 of the 2024 Law on Social Insurance, regulations on one-time allowances upon retirement for voluntary social insurance participants are as follows:
1. Male workers with social insurance contributions of more than 35 years, female workers with social insurance contributions of more than 30 years, when retiring, in addition to pensions, are also entitled to a one-time allowance.
2. The level of one-time allowance for each year of contribution higher than specified in Clause 1 of this Article is equal to 0.5 times of the average income level used as the basis for social insurance contributions specified in Article 104 of this Law for each year of contribution higher than the retirement age according to the provisions of law.
In case the employee has met the conditions for enjoying a pension according to the provisions of Article 98 of this Law and continues to pay social insurance, the allowance level is equal to 2 times the average income level used as the basis for social insurance contributions specified in Article 104 of this Law for each year of contribution exceeding the number of years specified in Clause 1 of this Article from the time of reaching retirement age according to the provisions of law to the time of retirement.
Thus, employees who have met the conditions to receive a pension can continue to pay social insurance according to regulations.
The one-time allowance when retiring is equal to 2 times the salary/average income level used as the basis for compulsory/voluntary social insurance contributions for each year of contribution higher than the number of years of social insurance contributions from the time of reaching retirement age to the time of retirement.
