Please briefly describe the function of social insurance.

Social insurance has the following five functions:

First, guard against risks

Risks are mainly divided into two categories: first, personal risks, including old age, illness, work-related injuries and maternity risks. The second is work risk, including unemployment risk. These risks are inevitable. When the risk comes, it is often difficult for individuals to deal with it through self-relief, thus causing great losses to their lives. In the past, personal models were used to avoid risks, such as personal savings, family responsibilities and employer responsibilities. However, the ability of individuals is limited after all, and they are often unable to cope with the risk of large expenditures. "Looking down on illness" and "inability to provide for the elderly" are the disadvantages of these models.

The most basic function of the social insurance system is to compensate individuals for income losses when risks occur, and to ensure that individuals can continue to enjoy basic living security when they temporarily or permanently lose their ability to work or temporarily lose their jobs, resulting in income interruption or reduction. The way is to turn personal risks into social risks, so that the society can pay for personal risks, avoid individuals getting into trouble because they are unable to support themselves, and enable them to safeguard the survival dignity of their families and individuals, guarantee their basic living and avoid worries when risks come.

Second, social stability.

Social stability is the premise of a country's development. Social insurance is the regulator of social stability. On the one hand, it can make members of society feel safe, have good psychological expectations for future life and live and work in peace and contentment; On the other hand, it can alleviate social contradictions, build a harmonious social environment and achieve the stability of the whole society.

Third, it is conducive to achieving social equity.

Due to the differences in people's education level, labor ability and capital accumulation, there is a gap in income. If the gap is too large, it will cause a social problem of disparity between the rich and the poor. Social insurance can collect insurance funds through compulsory collection of insurance premiums, subsidize low-income workers or those who have lost their sources of income, improve their living standards, and achieve fair distribution of society to a certain extent.

Fourth, it is conducive to ensuring the smooth reproduction of social labor.

Market economy needs the normal reproduction of labor force. The survival of the fittest formed by market competition will inevitably cause some workers to leave their jobs temporarily, which may cause some workers and their families to lose their income and fall into a crisis of survival. Social insurance ensures the basic needs of these members, makes the supply and normal reproduction of labor force possible, and provides labor reserves for maintaining the normal operation of market economy.

Five, through the implementation of income redistribution, is conducive to the appropriate adjustment of labor distribution, to ensure the basic livelihood of low-income people.