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What materials are needed to apply for social security replacement
Social security, known as social insurance, is a social and economic system that provides income or compensation for people who are incapacitated, temporarily out of work, or have suffered losses due to health reasons. The main programs of social insurance include pension insurance, medical insurance, unemployment insurance, work injury insurance, and maternity insurance.
Social insurance scheme is organized by the government, which forces a certain group of people to form a social insurance fund by paying a part of their income as social insurance tax, and the insured can get a fixed income or compensation for loss from the fund if certain conditions are met, it is a redistributive system, and its goal is to ensure the reproduction of material and labor force and the stability of the society.
In China, social insurance is an important part of the social security system, and it occupies a central position in the whole social security system. In addition, social insurance is a kind of contributory social security, the funds are mainly paid by employers and workers themselves, and the government finance subsidizes and bears the ultimate responsibility.
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