Does the provident fund belong to social security

Provident funds do not belong to social security.

First, the definition and difference between provident fund and social security

Provident fund, referred to as housing provident 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. Mainly used to help workers solve housing problems, such as buying, building, rebuilding and overhauling self-occupied housing.

Social security, that is, social insurance, refers to a non-profit social security system with income redistribution function. It is to prevent and share social risks such as old age, unemployment, illness and death, realize social security, and force most members of society to participate. Social security mainly includes endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance, aiming at ensuring that citizens can get basic economic security when facing life risks.

From the definition, although provident fund and social security are both systems established by the state to protect citizens' lives, there are obvious differences in nature, use and management. Therefore, the provident fund does not belong to the social security category.

Two. Payment and management of provident fund and social security

Housing provident fund management center is usually responsible for the payment and management of provident fund, while social insurance agencies are responsible for the payment and management of social security. There are also differences between the two in payment ratio, payment base and scope of use. For example, the deposit ratio of provident fund is usually high, which is mainly used for housing-related expenses; The proportion of social security contributions is relatively low, which is mainly used to protect the basic needs of citizens.

In addition, provident fund and social security are also different in terms of enjoying treatment. The withdrawal and use of provident fund usually need to meet certain conditions, such as buying a house and repaying a mortgage. The treatment of social security is mainly reflected in the protection of old-age care, medical care and unemployment.

To sum up:

Provident funds do not belong to social security. Although they are all systems established by the state to protect citizens' lives, there are obvious differences in definition, nature, use, payment and management. Therefore, when understanding and using these two systems, we should make clear their respective characteristics and scope of application.

Legal basis:

Regulations on the administration of housing provident fund

Article 2 provides that:

These Regulations shall apply to the deposit, withdrawal, use, management and supervision of housing provident fund in People's Republic of China (PRC).

The term "housing accumulation fund" as mentioned in these Regulations 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 and social organizations (hereinafter referred to as units) and their employees.

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

Article 2 provides that:

The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.