What's the difference between social security fund and social insurance fund?

1. The National Social Security Fund (hereinafter referred to as the Social Security Fund) refers to the social security fund centrally managed by the central government, managed by the National Social Security Fund Council (hereinafter referred to as the Council), and consists of funds transferred from state-owned shares and equity assets, funds allocated by the central government, funds raised by other means approved by the State Council and their investment income;

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.

2. 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 a fund raised by the state for holding social insurance undertakings, which is used to pay insurance benefits and allowances enjoyed by workers due to temporary or permanent loss of working ability or job opportunities. The social insurance fund shall determine the source of funds according to the types of insurance and gradually implement social pooling. Employers and workers must participate in social insurance and pay social insurance premiums according to law.

Extended data:

According to the relevant provisions of the Social Insurance Law of People's Republic of China (PRC)

Chapter VIII Social Insurance Fund

Article 64? Social insurance funds include basic endowment insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund. Each social insurance fund establishes accounts according to the types of social insurance, and then implements a unified national accounting system;

The social insurance fund is earmarked for special purposes, and no organization or individual may occupy or misappropriate it. The basic old-age insurance fund will gradually implement national overall planning, and other social insurance funds will gradually implement provincial overall planning. The specific time and steps shall be stipulated by the State Council;

Article 65? Social insurance funds achieve balance of payments through budgets. When the social insurance fund is insufficient to pay, the people's governments at or above the county level shall give subsidies;

Article 66? The social insurance fund shall set up a budget according to the overall level. The budget of the social insurance fund shall be compiled separately according to the social insurance items;

Article 67? The preparation, examination and approval of the draft budget and final accounts of the social insurance fund shall be carried out in accordance with the laws and the provisions of the State Council;

Article 68? The social insurance fund shall be deposited in the financial special account, and the specific management measures shall be formulated by the State Council;

Article 69? On the premise of ensuring safety, the social insurance fund shall be invested and operated in accordance with the provisions of the State Council to maintain and increase its value. Social insurance funds shall not be used for illegal investment and operation, for balancing other government budgets, for building or rebuilding office buildings, for paying personnel expenses, operating expenses and management expenses, or for other purposes in violation of laws and administrative regulations;

Article 70? Social insurance agencies shall regularly announce to the public their participation in social insurance and the income and expenditure, balance and income of social insurance funds;

Article 71? The state establishes a national social security fund, which consists of funds allocated by the central government and raised by other means approved by the State Council, and is used to supplement and regulate social security expenditure. The national social security fund management and operation organization is responsible for the management and operation of the national social security fund, and realizes the preservation and appreciation under the premise of ensuring safety;

The national social security fund shall regularly announce the income and expenditure, management and investment operation to the public. The financial department, social insurance administrative department and auditing organ of the State Council supervise the revenue and expenditure, management and investment operation of the national social security fund.

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