1, the young people who have paid the insurance premium are over 60 years old and the payment period is over 15 years or more, and they will receive the basic pension on a monthly basis from the next month after reaching 60 years old;

2. Middle-aged people who pay insurance premiums will receive a basic pension on a monthly basis from the next month when they reach the age of 60. The provisions on the payment period are as follows: Middle-aged people will continue to participate in the insurance payment from the pilot year. If the payment period is less than 15 when they reach the age of 60, they can choose to make up to15 at one time; If you don't choose to make up to 15, the personal account pension will be calculated according to the actual storage amount of the personal account. Middle-aged people who did not pay the insurance premium in the pilot year or stopped paying after the pilot year are not allowed to make up to 15 at one time when they reach the age of 60, and can only pay personal account pension according to the actual storage amount of personal account.

Legal basis: Article 15 of the Social Insurance Law of People's Republic of China (PRC).

The basic pension consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

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The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.