What's the difference between social security and labor insurance?

Social insurance refers to a system in which workers and their families get some material help from the state or society in the case of old age, illness, work injury, unemployment and childbirth. This is compulsory insurance. Labor insurance refers to a kind of security system that workers get material help from the state, society and their units when they lose their ability to work or are unable to work or temporarily interrupt their work for other reasons.

Social insurance and labor insurance have the following differences:

(1) The establishment of this insurance system is aimed at the whole society, with the characteristics of compulsion, universality, mutual assistance, welfare and sociality. Labor insurance is a system formed under the planned system, on the premise that insurance is based on the public ownership of enterprises (employers), enterprises will not go bankrupt, and workers' labor insurance will always be guaranteed.

(2) Their scope of implementation is different. Social insurance includes not only employees, but also their family members, while labor insurance is limited to employees themselves. Geographically speaking, the social insurance system that needs to be implemented by the whole society is no longer fixed in an enterprise like labor insurance in the past, but an insurance system implemented in the whole society. The content of social insurance is much richer than labor insurance.

(3) The collection and management of insurance funds and the enjoyment of insurance benefits are different. The social insurance system is socialized and generally belongs to a dynamic cycle, while the labor insurance is handled by various employers in a decentralized manner.