What does it mean to show that the social security is not settled when withdrawing the provident fund account?

What does it mean that the housing provident fund account has not been settled? This is a state in which the employee's provident fund has not been settled after the employee withdraws his application for account cancellation and the provident fund center accepts his application for account cancellation. If the employee's non-registered social security transfer account is transferred out, that is, it is calculated from the time you cancel the account, and it is confirmed that the employee's basic old-age insurance or basic medical insurance is actually transferred out and collected in different places through online verification with Shenzhen Social Insurance Fund Administration, or it is determined that the employee's basic medical insurance and work-related injury insurance have been suspended for three months, our center will transfer the principal and interest balance of the employee's housing provident fund account to the savings account of the employee's housing provident fund joint card within a week or so.

After understanding what it means to cancel the housing provident fund account, let's look at other issues of the provident fund.

Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees. This definition of housing accumulation fund contains the following five meanings: (1) Housing accumulation fund is only established in cities and towns, and the housing accumulation fund system is not established in rural areas. (2) Only on-the-job employees can establish the housing accumulation fund system. Unemployed urban residents do not implement the housing provident fund system, and retired workers do not implement the housing provident fund system. (3) The housing accumulation fund consists of two parts, one part is paid by the employee's unit, and the other part is paid by the employee. After the individual contributions of employees are withheld by the unit, they will be paid into the individual account of housing provident fund together with the unit contributions. (4) The long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must be paid continuously in accordance with the regulations during their employment, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund. (5) Housing provident fund is a personal housing savings fund for employees' housing consumption expenditure, which has two characteristics: first, it is cumulative, that is, although housing provident fund is an integral part of employees' wages, it is not paid in cash, and must be deposited in a special account opened by the housing provident fund management center in the entrusted bank, and special account management is implemented. The second is special. The housing provident fund is earmarked for special purposes and can only be used for the purchase, construction, overhaul of self-occupied housing or the payment of rent during storage. Only when employees retire, die, completely lose their ability to work, terminate their labor relations with their units or move out of their original cities can they withdraw housing provident fund from their accounts.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.