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What is Social Security Fund III?

According to the social security network, the three social security funds refer to industrial injury insurance, medical insurance and endowment insurance.

1. Work-related injury insurance benefits refer to the system of providing material assistance to employees who are disabled or killed at work and their dependent relatives.

2. Medical insurance refers to an insurance that compensates medical expenses caused by diseases. When employees are sick, injured or give birth, society or enterprises provide necessary medical services or material help.

3. Old-age insurance refers to the system of providing old-age security for retired workers.