What does exclusive social security deposit mean

Social Security Exclusive Deposit refers to a personal bank account set up for insured persons and used exclusively for storing social security funds.

Social security exclusive deposit accounts are usually associated with social security cards and are used to receive and store funds for personal social security contributions and social security benefits. These funds include pension insurance personal account funds, medical insurance personal account funds, unemployment insurance benefits, and workers' compensation insurance benefits.

The characteristics and uses of exclusive social security deposits are as follows:

Specialization: the funds in the exclusive social security deposit account can only be used for social security-related expenditures, and cannot be withdrawn or misappropriated at will.

Security: Social Security Exclusive Deposit Accounts are protected and regulated by law to ensure the safety of the funds.

Convenience: Through the association of the social security card with the exclusive social security deposit account, the insured can conveniently carry out operations such as inquiring, paying and collecting social security funds.

Payment of social security fees: Participants can make regular payments of social security fees, including pension insurance and medical insurance, through the exclusive social security deposit account.

Receiving social security benefits: when the participant meets the conditions for receiving social security benefits, the relevant benefits will be paid directly to his/her exclusive social security deposit account.

Personal inquiry and management: Participants can inquire about their social security contribution records and benefits through the exclusive social security deposit account, which facilitates personal management and planning.

In summary, the exclusive social security deposit is an important tool to ensure the safety of participants' social security funds and to facilitate their management and use.

Legal basis:

Social Insurance Law of the People's Republic of China

Article 8

Social insurance agencies provide social insurance services, and are responsible for social insurance registration, records of individual rights and interests, and payment of social insurance benefits.