What's the difference between five insurances and social security?

There is no difference between five insurances and social security.

Five insurances refer to endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance; Social security is a social insurance system including these five insurances. After the unit establishes the labor relationship with the laborer, it needs to pay these insurances for the laborer. The "one gold" in the five insurances and one gold refers to the housing accumulation fund, which is another welfare treatment besides the five insurances. Therefore, the five insurances and social security actually refer to the same kind of protection, but the five insurances and one gold increase the housing accumulation fund on the basis of the five insurances.

Components of five risks:

1. Old-age insurance: providing basic living security for employees after retirement;

2. Medical insurance: medical expenses subsidies for employees and their families;

3. Unemployment insurance: providing living expenses for unemployed workers for a certain period of time;

4. Work-related injury insurance: providing medical expenses and living allowances for employees who suffer from work-related injuries or occupational diseases;

5. Maternity insurance: provide certain economic subsidies and guarantees for the maternity of female employees.

To sum up, the five insurances and social security actually refer to the same kind of security, but the five insurances and one gold increase the housing accumulation fund on the basis of the five insurances.

Legal basis:

People's Republic of China (PRC) social insurance law

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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 get material help from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.