How to use the funds in the social security card

The fund in the social security card is used when the participant meets the legal conditions.

Participants who have accumulated 15 years of contributions by the time they reach the legal retirement age can receive a monthly basic pension; or if a participant is sick and hospitalized, he or she can use the social security card to go to a medical institution or a pharmacy to make a direct settlement.

I. How to manage the social security fund

1. Open source and cut costs to grasp the fund management and raise awareness

2. Integrate the social security agencies and reduce the operation of the fund

3. Improve the efficiency of the fund management and broaden the investment channels of the fund

4. Improve the supervision mechanism of the social security fund and strengthen the internal auditing

The second, social security card The use of money in the social security card:

If the insured person reaches the legal retirement age when the accumulated contributions for fifteen years, you can receive the basic pension from it every month; and if the insured person is sick and hospitalized, and the medical expenses incurred are within the scope of the reimbursement, you can bring the social security card and other information to go to the designated hospitals or pharmacies directly to use it.

The money in the social security card cannot be taken out. If a person who participates in the basic pension insurance dies, his legal heirs can inherit the balance of the personal account, the share of inheritance according to the agreement of the heirs. The money cannot be spent in advance outside of the inheritance. 1.5 trillion yuan of asset management of the social security fund will really be realized in accordance with the law.

Legal basis

The Chinese People's **** and the State Social Insurance Law

Article 16

Participating in the basic pension insurance individuals, reaching the legal retirement age when the cumulative contributions of fifteen years, the monthly basic pension.

Individuals who have participated in basic old-age insurance and have contributed for less than fifteen years by the time they reach the statutory retirement age may contribute until they reach the full fifteen years and receive a basic pension on a monthly basis; they may also be transferred to the new type of rural social old-age insurance or to the social old-age insurance for urban residents, and shall enjoy the corresponding old-age insurance benefits in accordance with the provisions of the State Council.

Article 28

Medical expenses that conform to the basic medical insurance drug list, diagnostic and therapeutic items, standards of medical service facilities, as well as those for emergencies and rescues, shall be paid out of the basic medical insurance fund in accordance with the State regulations.

Article 29

The portion of the medical expenses of insured persons that should be paid by the basic medical insurance fund shall be settled directly between the social insurance administration organization and the medical institutions and drug business units.

The administrative departments of social insurance and the administrative departments of health shall establish a settlement system for medical expenses incurred for medical treatment in other places, so as to facilitate the enjoyment of basic medical insurance by insured persons.