In recent years, an increasing number of people have chosen to immigrate to the U.S., many of whom have already contributed to social security in China for a certain number of years. If you settle abroad, what should you do with the social security contributions you have made in China over the years?
1. What should I do with my social security if I have contributed for less than 15 years in China and settle abroad?
For example, if Mr. Wang has worked in Beijing for 12 years and has also contributed to social security for 12 years, and his whole family is now preparing to settle abroad, how should he handle his social security?
According to relevant regulations, if an insured person settles abroad before retirement, the balance in their personal account will be refunded to them, and their pension insurance relationship will be terminated. However, one can also choose not to withdraw the funds and keep the account active.
For Mr. Wang's situation, it is recommended not to withdraw the funds. Some people consider returning after living abroad to continue working in China and eventually retiring there. If you withdraw the funds, your years of contribution will be reset. This means that if Mr. Wang returns to live and work in China in the future, he would only need to contribute for another 3 years to reach the 15-year requirement, allowing him to receive a pension upon retirement at age 60. However, if he withdraws the funds, he would have to start over and contribute for a full 15 years. Therefore, unless you are in urgent need of money, it is recommended not to withdraw your social security.
2. What if I have contributed for 15 years or more in China but leave before reaching retirement age?
Can I still process my retirement when I reach the retirement age?
According to current policies, you can apply for retirement and receive a pension once you have contributed to social security for 15 years. When you reach retirement age, even if you hold citizenship of another country, you can still return to China to apply for retirement and receive your pension.
Furthermore, living abroad does not make it difficult to receive your domestic pension; you do not need to return to China to collect it. It is reported that after processing retirement, if the retiree is abroad, the social security agency can mail the monthly pension to the insured person. The annual qualification certification for receiving the pension can also be completed at the local Chinese Embassy and then mailed back to China.
3. If I really want to withdraw my social security, how do I do it?
First, you need to close your medical insurance account (i.e., withdraw the money in your medical insurance account in a lump sum). In addition to the original and a copy of your immigration passport, and the original and a copy of your household registration cancellation certificate, you must also provide proof of contract termination from your former employer. If you do not have this, you must obtain the "Basic Medical Insurance Personnel Reduction Roster" from the medical insurance center and take it to your former employer to complete the relevant procedures, proving that you have terminated your contract with them.
Next, take the original and a copy of your immigration passport, the original and a copy of your household registration cancellation certificate, a copy of your ID card, and your employee pension handbook to the pension insurance center to print out your personal account contribution details. Then, go to the human resources department of your former employer and have the person in charge of pension insurance issue a "Special Receipt for Social Security Fund" stamped with the company's official seal. Finally, take all materials to the pension insurance center for review. The pension insurance center will then transfer the money in your account to your former employer's account in a lump sum, and you can then collect the money from your former employer.
When closing your housing provident fund account, in addition to your housing provident fund card, you must also take the original and a copy of your immigration passport, the original and a copy of your household registration cancellation certificate, and a copy of your ID card or Chinese passport. After final approval by the housing provident fund management center, they will close the account and withdraw all the funds in it for you.
It is worth noting that when withdrawing social security, only the housing provident fund can be fully refunded to the individual; for the pension, only the portion contributed by the individual can be refunded.
The above information is for reference only. For more information on U.S. immigration, please follow the official website of Worldway Group.
