How to use the money in the social security pooling account?

Social security is divided into two parts, one part goes into personal account and the other part goes into overall account.

Part of the money in the overall account is paid by individuals and part by units. The money in your personal account can be used to pay for medical expenses, or you can go to a designated medical insurance pharmacy to buy medicine. However, the money in the overall account cannot be used casually. The state collects this part of the money for unified management, and then distributes it to people who are now retired and reimburses them for medical expenses.

The money in the social security pooling account can be used when the insured has a medical insurance reimbursement accident. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance. The social insurance plan is organized by the government, forcing a certain group to use part of its income as social insurance tax (fee) to form a social insurance fund. Under certain conditions, the insured can get fixed income or loss compensation from the fund. It is a redistribution system, and its goal is to ensure the reproduction of material and labor and social stability.

Social insurance refers to the system that the state establishes a social insurance fund through legislation to give necessary material help to workers who participate in labor relations when they lose their ability to work or are unemployed. Social insurance is not for profit.

Legal basis:

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

Article 7

The administrative department of social insurance in the State Council is responsible for the national social insurance management, and other relevant departments in the State Council are responsible for the relevant social insurance work within their respective functions and duties.

The social insurance administrative department of the local people's government at or above the county level shall be responsible for the social insurance management within its administrative area, and other relevant departments of the local people's government at or above the county level shall be responsible for the relevant social insurance work within their respective functions and duties.