What does social security mean and what are its advantages?

Social security is a social and economic system in which the state provides income or compensation to people who have lost their ability to work, are temporarily unemployed or suffer losses due to health reasons.

Benefits of paying social insurance:

1, old-age insurance, accumulated over 15 years, can receive a monthly pension after reaching retirement age;

2, medical insurance, the insured is sick, medical expenses can be reimbursed in proportion;

3, unemployment insurance, the insured who temporarily interrupted his source of livelihood due to unemployment can receive unemployment benefits during the period of receiving vocational skills training;

4. Work-related injury insurance, in case of accidents or occupational diseases at work, you can get material help;

5. Maternity insurance. During pregnancy and childbirth, the state and society provide medical services, maternity allowance and maternity leave.

People's Republic of China (PRC) Social Insurance Law Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance to protect citizens' right to get material help from the state and society in the event of old age, illness, industrial injury, unemployment and maternity.

Fifth people's governments at or above the county level shall incorporate social insurance into the national economic and social development plan.

The state raises social insurance funds through multiple channels. People's governments at or above the county level shall give necessary financial support to social insurance.

The state supports social insurance through preferential tax policies.

Article 7 The administrative department of social insurance in the State Council is responsible for the management of social insurance throughout the country, and other relevant departments in the State Council are responsible for the relevant social insurance work within their respective functions and duties.

The social insurance administrative department of the local people's government at or above the county level shall be responsible for the social insurance management within its administrative area, and other relevant departments of the local people's government at or above the county level shall be responsible for the relevant social insurance work within their respective functions and duties.

Sixteenth individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis if they have accumulated contributions for fifteen years when they reach the statutory retirement age.

Individuals who participate in the basic old-age insurance and pay less than fifteen years when they reach the statutory retirement age can pay for fifteen years and receive the basic pension on a monthly basis; Can also be transferred to the new rural social endowment insurance or urban residents' social endowment insurance, enjoy the corresponding pension insurance benefits in accordance with the provisions of the State Council.