What is social security accumulation fund?

Social security accumulation fund refers to the payment of living expenses and care for life during the pension period when workers lose their ability to work due to old age. That is, the payment of living expenses and medical expenses during the period of unemployment, as well as the safeguard measures such as job-changing training, production self-help and job introduction.

Old-age insurance: that is, when workers lose their ability to work due to old age, they are given living expenses and care in their old age.

Unemployment insurance: that is, the payment of living expenses and medical expenses during unemployment, as well as job-changing training, self-help in production, job introduction and other safeguard measures.

Work-related injury insurance: it is to compensate the wages of workers who are injured at work and temporarily or permanently lose their ability to work, and it is also a medical care and life care measure for workers injured at work.

Medical insurance: that is, the safeguard measures in medical treatment and nursing during the illness of workers.

Maternity insurance: that is, income subsidies and safeguard measures for female employees during their childbearing period.

Extended data:

Pension insurance must be paid for 15 years, and you can enjoy pension benefits after retirement. Those who are still employed when they reach the age stipulated by the state for receiving pension benefits can continue to pay fees after application and delay enjoying basic pension benefits. The delay period is in years. The longest payment age cannot exceed 70 years old. If the payment period is less than 15 years, the basic pension will not be paid, and all the savings in the personal account will be paid to me in one lump sum, enjoying the one-time pension treatment.

The payment base of housing provident fund is calculated according to the average monthly salary of employees in the previous year, and the salary amount is calculated according to the provisions of the National Bureau of Statistics. Housing provident fund must be deposited continuously for 6 months before it can be withdrawn. The loan to buy a house with housing provident fund in Jinan is at most 15 times of the balance of housing provident fund account, with interest of 3.87% for loans over five years and 3.33% for loans under five years.

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