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What is social security?
Social security is social insurance. Social insurance refers to the system that the state establishes a social insurance fund through legislation to give necessary material help to workers who participate in labor relations when they lose their ability to work or are unemployed. Social insurance usually refers to five insurances and one fund, including endowment insurance, medical insurance, unemployment insurance, work injury insurance, maternity insurance and housing accumulation fund, collectively referred to as social security.
Legal basis: Article 2 of the Social Insurance Law of People's Republic of China (PRC): The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance to protect citizens' right to get material help from the state and society in case of old age, illness, industrial injury, unemployment and maternity.
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