The difference between endowment insurance fund and social security fund

1. What is a social insurance fund? Social insurance fund refers to the special fund that the state requires the whole society to establish through legislation to pay social insurance benefits. Assets purchased with such funds and their value-added parts also belong to the scope of social insurance funds. Social insurance fund is also a fund raised by the state for holding social insurance undertakings, which is used to pay the insurance benefits and allowances enjoyed by workers due to temporary or permanent loss of working ability or job opportunities. II. The categories of social insurance funds mainly include five categories, namely: 1. Basic endowment insurance fund; 2. Basic medical insurance fund; 3. Industrial injury insurance fund; 4. Unemployment insurance fund; 5. Maternity insurance fund. Three. Source 1. The insurance premium paid by the insured according to a certain proportion of his wage income (if the wage income cannot be determined according to the average wage of employees); 2 by the insured units according to a certain proportion of the total wages of employees to pay insurance premiums; 3. Government financial subsidies to social insurance funds; 4. Bank interest or return on investment from social insurance funds and social donations. Four. Financing method 1. Pay-as-you-go system: Generally, employers and employees pay social insurance tax or social insurance premium according to a certain proportion of total wages. This financing model requires that the expenses to be paid for a social security measure in the current year or in recent years should be budgeted first, and then allocated to the units and individuals participating in social insurance according to a certain proportion, and then paid in the current year. 2. Complete accumulation system: Generally, workers are required to pay insurance premiums regularly by both employers and employees or only one of them according to a certain proportion of total wages, and deposit them in personal accounts as a fund for long-term storage, accumulation, preservation and appreciation. The ownership belongs to the individual, and it will be paid once or monthly when it is received according to the prescribed conditions. 3. Partial accumulation system: one part of the guarantee fee is paid as needed to meet the current demand, and the other part is accumulated to meet the growth of future payment demand.

Legal objectivity:

Article 64 of the Social Insurance Law of People's Republic of China (PRC) includes basic old-age insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund. All social insurance funds shall be accounted for according to the types of social insurance, and a unified national accounting system shall be implemented. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country.