What does social security accumulation fund mean? What are the uses?

Many small partners are not familiar with the social security and provident fund they usually pay. For example, they don't know what social security accumulation fund means. What are the uses? In fact, social security provident fund can give us a lot of help in life. Then please follow me today to learn about the relevant content!

1. What does social security accumulation fund mean?

Social security accumulation fund, in fact, mainly refers to housing accumulation fund, which is a long-term housing savings. Usually government agencies and institutions, urban private enterprises and collective enterprises, state-owned enterprises, other urban enterprises, foreign-invested enterprises, institutions, social organizations, private non-enterprise units, etc. All pay social security accumulation fund for employees of this unit.

At present, employee social security is compulsory, and provident fund is not a compulsory payment item.

Second, what are the uses of social security provident fund?

1, social security

Social security insurance generally includes endowment insurance, medical insurance, industrial injury insurance, maternity insurance and unemployment insurance. As long as you can pay social security fees in full and on time every month and reach the cumulative payment period, you can enjoy the corresponding treatment and subsidies.

2. Reserve fund

The main function of the provident fund is to buy houses, houses and repair buildings, and parents can also buy them for their children.

3. Can the social security accumulation fund be taken out?

In principle, social security and provident fund cannot be withdrawn casually, but if certain circumstances are met, the money in personal accounts can be withdrawn. Usually, the social security accumulation fund needs to meet the following requirements:

1, retire

Those who have settled abroad.

3. The insured has died before retirement.

4, to the retirement age, under the cumulative payment period will not make up.

In addition, the provident fund can be used for house purchase and decoration. Therefore, if the immediate family members of employees need to buy their own houses, repay housing loans, build and renovate houses, rent houses, etc. They can also apply for withdrawal of provident fund as long as they meet the corresponding conditions.