What are the benefits of paying social security

1. Provide life security after retirement:

After paying social security, you can apply for retirement when you reach the retirement age, and you don't need to continue to pay contributions, and you can receive a monthly pension. This money can cover the basic costs of living and you can enjoy a more comfortable old age.

2. Provide accidental protection:

After paying social security, you can use medical insurance to insure your hospitalization when you are sick, you can use maternity insurance to reimburse you for giving birth to a child, and you can use workers' compensation insurance to reimburse you for injuries you sustained during the course of your work. In addition, the unemployment insurance in the social security can provide a livelihood protection in case of unemployment.

3, to get the qualification of buying houses and cars:

In some big cities, if you don't pay the local social security, you won't have the qualification of buying houses, you can't set up household registration, and you can't take part in the car purchase lottery.

4, reduce the payment of personal income tax:

The state provides that the social security part is exempted from personal income tax, so after paying the social security, the taxable part of the individual will become less, and the personal income tax to be paid will also be reduced.

The purpose of paying social security is to guarantee the right of citizens to receive material help from the state and society according to the law in cases of old age, illness, work injury, unemployment and childbirth. Social insurance is a social and economic system that provides income or compensation for the population that is incapable of working, has temporarily lost its labor position or has suffered losses due to health reasons.