What is the concept of social security fund?

Social security fund refers to the social security fund centrally managed by the central finance, managed by the National Social Security Fund Council, and composed of funds transferred from state-owned shares and equity assets, funds transferred from the central finance, funds raised by other means approved by the State Council and their investment income. Including pension, unemployment, work injury, medical care and maternity insurance. Social security funds are not open to individual investors. Social security fund is a part of the endowment insurance premium paid by the state to enterprises and institutions managed by professional institutions in order to maintain and increase the value.

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 receive material assistance from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children. Article 5

The people's governments at or above the county level will incorporate social insurance into the national economic and social development plan.

The state raises social insurance funds through multiple channels. People's governments at or above the county level shall give necessary financial support to social insurance.

The state supports social insurance through preferential tax policies.