Are five social insurances and one fund so important? Why do many people like five insurances and one housing fund so much?

The five insurances and one fund mainly refer to pension insurance, medical insurance, unemployment insurance, family planning insurance, work-related injury insurance and urban employee housing provident fund. It has been gradually established, developed and improved based on the actual social and economic development of our country, and has become the largest social security system in the world. It is the legal obligation for employers to provide social security for their employees in accordance with the law. It has become the most authoritative social security system in my country with the largest number of insured persons, the most complete basic guarantees, and is related to people’s livelihood issues such as pensions, medical care, childbirth, unemployment, and work-related injuries. It is closely related to and inseparable from our lives.

Maybe many people don’t pay special attention to it. They always feel that wireless is far away from us. Among the five social insurances and one fund, pension insurance and medical insurance are basic benefits that can only be enjoyed after reaching the legal retirement age. Many young people are still very late in reaching the mandatory retirement age. This is the main reason why many people, especially young people, do not pay attention to the five insurances and one housing fund. Five insurances and one housing fund are very important in the workplace. Some of them have little personal impact.

Now the general direction of job hunting has changed to a certain extent. Recruitment issues are reflected in all aspects of various industries and even in various units. It cannot be said that the total population is decreasing, at least the labor force population may change to a certain extent because the aging population is increasing. As long as the total population remains unchanged, the increase in the aging population means a decrease in the working-age population.

The housing provident fund is the most authentic type of five insurances and one fund, and the amount is very high. Both individuals and organizations pay 12%. Different from the five insurances, 24% of the monthly provident fund deposits belong to individuals. It can be directly accessed into personal provident fund accounts and can be withdrawn for purchases, rentals, renovations and even serious illnesses. The housing provident fund loan interest rate is only 3.25%, and the commercial loan interest rate is 4.95%. The loan interest rate is relatively low, which can reduce the financial burden of home buyers and lay a good foundation. With five insurances and one housing fund, you can not only enjoy various social security benefits while working, but also ensure that you can live and work in peace and contentment without worries, which invisibly improves your social status.