1. Can employees’ pension insurance be borrowed? How to repay the loan

Employees’ pension insurance cannot be borrowed

2. How much can be borrowed for pension insurance? ?

Pension insurance cannot be used for loans, but if it is commercial pension insurance, it can be used for loans.

If you don’t have the money to pay for pension insurance, a guaranteed loan is possible.

Guarantee loans are mainly aimed at people who have difficulties in interrupting basic pension payments. Through government guarantees, interest discounts and proportional repayments, they can help them continue to pay pension insurance premiums so that they can handle it normally when they reach the prescribed retirement age. Retirement procedures, receive pension benefits on time, and achieve old age

The implementation of insurance loans can not only help needy groups overcome temporary payment difficulties, but also re-integrate many people who are unable to pay pension insurance into the current pension insurance. Achieving a secure pension for the elderly can increase the total income from pension insurance premiums, enhance the support capacity of pension insurance funds, and promote the healthy and sustainable development of the basic pension insurance system for urban enterprises in our city.

Those who have participated in the basic pension insurance for urban enterprise employees, paid intermittent premiums for state-owned and collective enterprises within 5 years of the statutory retirement age due to the termination of labor relations, and those who are unemployed due to layoffs and enjoy the minimum living security for urban residents and other insurance premiums.

In accordance with the payment regulations for freelancers, the borrower determines the loan amount based on 60% of the province's average social salary in the previous year and a ratio of 20%. The loan amount cannot exceed the total amount of pension insurance premiums paid.

The interest rate of the guarantee loan shall be adjusted according to the interest rate announced by the People's Bank of China and shall be implemented in accordance with the relevant regulations of the People's Bank of China.

The term of a guarantee loan generally does not exceed 12 years, of which the grace period does not exceed 5 years (referring to the date of loan disbursement to before receiving pension insurance benefits), and the repayment period does not exceed 7 years (referring to when receiving pension insurance benefits). from when the loan is settled).

The interest generated by the borrower’s loan payment before reaching the retirement age shall be borne by the government; after reaching the retirement age and meeting the conditions for receiving the loan, the borrower shall bear the interest.

Starting from the borrower reaching the prescribed retirement age and meeting the benefits, the principal and interest of the loan that should be repaid in the current period will be deducted according to the bank's regulations. The balance after deduction will be issued to the borrower by the lending bank.

After the borrower has the ability to pay, he can apply in writing in advance to terminate the issuance of the guarantee loan, and the remaining loan can be paid off in advance or in installments as stipulated in the contract. When the borrower's pension insurance relationship is transferred during the loan period, the loan must be paid off first.

After the borrower receives the basic pension, he or she can repay the loan partially or completely in advance if he or she has the ability to repay, but must submit an application to the lending bank within 30 days before repayment.

If the borrower dies on the job, the principal and interest of the basic pension insurance premium paid for the loan will be repaid to the lending bank in one lump sum, and the funeral pension will be paid to the legal heir.

How to repay? If the borrower dies after retirement, the principal and interest of the basic pension insurance premium paid by the borrower for the loan will be deducted from the balance of the pension received, and the loan will be paid to the lending bank in one lump sum. The shortfall will be repaid by the financial risk reserve. His/her funeral benefits are paid to the legal heirs.

3. Can pension insurance be loaned_How to apply_How to repay when due

Can pension insurance be loaned

Pension insurance can be loaned, as long as If you meet the loan conditions, you can apply to the local government, and then the government will act as your guarantor to borrow money from commercial banks, but the amount is generally not high. And this money will not be paid directly in the form of cash, but the bank will help the applicant pay social insurance, and then repay the interest on the loan after the applicant reaches retirement age.

The biggest advantage of a pension insurance loan is that it is unsecured and does not require proof of income. Repayments will not begin until retirement. It is very suitable for users who have financial difficulties and do not meet other bank loan conditions.

How to repay a pension insurance loan

Lenders are more concerned about the issue of repayment after taking a pension insurance loan. After all, it is directly linked to their central bank credit report, and we have also said above Pension insurance loans do not directly use pension insurance as collateral. Instead, the bank pays the pension insurance for the borrower. The final repayment will be after retirement, and the interest will be spread equally to each repayment month. The repayment method is usually that the bank directly deducts the corresponding interest from the social security paid by itself and issues it. Because the pension insurance loan amount is low, there is no need to worry too much about repaying the high interest.

How much can you borrow for pension insurance?

Another loan method for pension insurance loans is also called social security loan. It is very different from what we mentioned above. Credit loans have higher limits and higher interest rates. The social security requirements for borrowers are usually stricter. They usually require continuous payment for more than six months. Only users with good credit can apply. The limit is usually equal to the amount they pay each month. It depends on the amount of social security, the maximum can be 500,000 yuan, and the minimum can be more than 3,000 yuan, but usually the annual interest rate is between 8-15, and the repayment time is within 3 years.

How to apply for a pension insurance loan

The two pension insurance loan methods are mentioned above. What is the application process? How to apply

The first type of direct payment of pension insurance has strict conditions. You need to apply to the government agency, the Human Resources and Social Security Bureau, and then go to the corresponding commercial bank with relevant certificates to apply.

The second type of social security loan is a kind of bank credit loan, which can be processed by any bank. It usually requires the borrower to provide proof of employment and salary statement. The amount depends on your credit limit. If If you have real estate or a private car, the loan limit will be relatively high, while the loan limit for pure social security loans is generally lower.

4. How to get a loan using social security?

What are the conditions for social security loans? It depends on how long you have paid social security and the base payment. The main items of social security include pension insurance, medical insurance, unemployment insurance, work-related injury insurance and maternity insurance. In addition to the regular purpose of providing people with security, social security can also apply for loans. Social Security Loan Conditions First of all, social security loans must meet the following conditions: 1. Social security has been paid continuously for more than 18 months without interruption.

2. Must be a resident of China (excluding Hong Kong, Macao and Taiwan) aged 22-55 (exclusive).

3. Have a stable job, and the employer purchases social security and provident funds for the individual.

4. The place of work and the place of application, the place of work and the place of social security payment are in the same city.

5. There is no overdue record and the ability to repay the principal and interest of the loan on time. Compare your own conditions, and if you can basically meet them, you can try to apply for a social security loan from the bank. Everyone's social security payment amount is different, so the loan amount will also be different. The maximum social security loan can be 600,000.