What is the use of paying social security?

1. Providing living security after retirement:

After paying social security, you can retire after reaching retirement age, and you can receive a monthly pension without continuing to pay. This money can pay for basic living expenses and enjoy a more comfortable old age.

2. Provide accident protection:

After paying social security, you can use medical insurance to insure hospitalization, use maternity insurance to reimburse children, and use work injury insurance to reimburse work-related injuries. In addition, unemployment insurance in social security can provide living security for the unemployed.

3. Eligible to buy a house and a car:

In some big cities, if you don't pay the local social security, you won't be qualified to buy a house, you won't be able to get a hukou, and you won't be able to participate in the car lottery.

4. Reduce the personal income tax paid:

The state stipulates that the social security part is exempt from personal income tax, so after paying social security, the personal taxable part will be less and the personal income tax to be paid will also be reduced.