What are the "Four Funds" in Shanghai?

Social Insurance (Social Insurance) is a social and economic system that provides income or compensation for people who are incapacitated, temporarily out of work, or have suffered losses due to health reasons. The main programs of social insurance include pension insurance, medical insurance, unemployment insurance, work injury insurance, and maternity insurance.

Social insurance programs are organized by the government, which forces a certain group of people to take part of their income as a social insurance tax (fee) to form a social insurance fund, from which the insured can receive a fixed amount of income or compensation for their losses if certain conditions are met, and it is a kind of redistributive system, whose goal is to ensure the reproduction of material and labor force and the stability of the society.