Does the social security card have interest?

This is because the main function of social security card is as a tool to record and inquire personal social security rights and interests, rather than as an investment or savings tool.

The funds in the social security card mainly include the social security premium paid by individuals and the part paid by the unit. These funds are mainly used to pay the social security benefits of the insured, such as medical insurance and endowment insurance. Therefore, the management and use of these funds are strictly regulated and standardized to ensure their safety and compliance.

However, in some areas or under certain circumstances, the funds in the social security card may generate certain interest. This is usually related to the local social security policy, and the specific provisions may vary from region to region. For example, some regions may deposit social security funds in banks or other financial institutions, thus generating certain interest income. These interest income will usually be used to supplement the social security fund to improve the ability to pay social security benefits.

However, it should be noted that even if the funds in the social security card generate interest, these interests will not be paid directly to individuals. It is used for the management and operation of social security funds to better protect the rights and interests of insured persons.

To sum up: the social security card itself does not have the function of generating interest, and its funds are mainly used to pay social security benefits. Although in some cases, the funds in the social security card may generate certain interest, these interests are usually not paid directly to individuals, but are used for the management and operation of social security funds.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 64 provides that:

Social insurance funds include basic endowment insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country.

The social insurance fund is earmarked for special purposes, and no organization or individual may occupy or misappropriate it.

The basic old-age insurance fund will gradually implement national overall planning, and other social insurance funds will gradually implement provincial overall planning. The specific time and steps shall be stipulated by the State Council.

Financial System of Social Insurance Fund in People's Republic of China (PRC)

Article 28 provides that:

Social insurance agencies shall strengthen the management of fund bank accounts, open bank accounts in strict accordance with the relevant provisions of the financial department and the People's Bank of China, and handle fund receipts and payments.