What does social security fund mean?

Legal analysis: Social security fund is the abbreviation of social labor security fund, also referred to as "social security fund". The funds raised by the state and local social labor and social security bureaus through various channels are mainly used for the social security and social welfare of workers participating in social security. It is a "pension" that provides the most basic guarantee for the insured's future life, and it is a "life-saving money" for accidental rescue or treatment in future life. The social security fund is converted into an investment fund by the relevant state and local administrative departments in accordance with the operating procedures allowed by the norms, also known as the "social security fund". Social security fund is different from social security fund, which comes from social security fund.

Legal basis: 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, so as to guarantee citizens' right to receive material assistance from the state and society in accordance with the law in case of old age, illness, industrial injury, unemployment and maternity.

Twenty-sixth basic medical insurance for employees, new rural cooperative medical care and basic medical insurance for urban residents shall be implemented in accordance with state regulations.