Our pension is usually credited directly to our Social Security card, but many people are not aware of this. This social security card functions the same as a bank card and can be used for transfers, deposits, and withdrawals. As a result, there are concerns that the pension may be recycled if it is not withdrawn in time.
When handling business at the bank, it is often seen that some middle-aged and elderly people go to the bank to withdraw cash immediately after the pension arrives. But they don't spend the money, but immediately go to another bank and deposit it into another account.
After the monthly retirement salary arrives, whether it needs to be deposited into the card or transferred directly, many people don't understand!
In fact, we don't have to. Because the social security card has the same function as a bank card. Simply download the relevant bank's app to make transfers, withdrawals, deposits, and more. Many people are not aware of this, but in reality they are the same. Therefore, in daily life, you don't have to worry about the pension in your social security card being recycled.
In the event of long-term non-use, the funds will not be swept away. The money has been deposited into your account and will not be recycled. Many people just listen to rumors, which lead some middle-aged and elderly people to go to the bank to withdraw cash immediately after receiving their pension.
They could have deposited the money into a bank card and asked their child to download an app to check their balance. By refreshing the app, they can get a clear picture of the balance in their account, which will give them more peace of mind.
In addition, the social security card also functions as a public transport card. We can use it to take transportation such as buses. At the same time, it is important to remember to activate your social security card as soon as you receive your pension. If you've just finished your retirement process but haven't activated your social security card, your pension may not arrive or be available properly.
For example, you may not be able to be hospitalized, reimbursed, or buy medications. Therefore, it is important to make sure that you activate your social security card. Please note that policies may vary from region to region, so please do your own research.
Do you usually withdraw or deposit the pension in your social security card immediately after receiving it?