What is the meaning of social security merger

Social security merger is to transfer and merge all the social security paid in different cities to one city in the end. Social security is social insurance, social insurance refers to a social and economic system that provides income or compensation for the population that is incapacitated, temporarily out of work, or has suffered a loss due to health reasons. The state establishes a nationally standardized individual social security number.

Employers shall pay basic pension insurance premiums in accordance with the state-regulated proportion of the total wages of their employees, which shall be credited to the Basic Pension Insurance Co-ordination Fund. Employees shall pay the basic pension insurance premiums in accordance with the proportion of their own wages stipulated by the State and credited to their individual accounts. Individual industrial and commercial households without employees, part-time workers who do not participate in basic pension insurance with their employers, and other flexibly employed persons who participate in basic pension insurance shall pay basic pension insurance premiums in accordance with the state regulations, which shall be credited to the basic pension insurance general fund and individual accounts respectively.

Legal Basis: The Social Insurance Law of the People's Republic of China Article 58

An employer shall, within thirty days from the date of employment, apply to a social insurance agency for social insurance registration for its employees. If it fails to register for social insurance, the social insurance administration organization shall approve the social insurance premiums it shall pay.

Individual industrial and commercial households without employees who voluntarily participate in social insurance, part-time employees who do not participate in social insurance with their employers, and other flexibly employed persons shall apply to the social insurance administrative organization for social insurance registration.

The State establishes a nationally unified individual social security number. The personal social security number is a citizen's identity number.