What is the meaning of the total amount of social security co-ordination

Social security co-ordination refers to the remaining part of the insurance premiums paid by the employer for the employee, after deducting the personal account. The social insurance fund belongs to all participants, and is centrally managed by social insurance institutions for unified transfer and use. The coordinated social insurance fund is stored and used exclusively for special purposes, and may not be misappropriated by any unit or individual.

1, the integrated fund is in accordance with a certain percentage, for example, most areas are individuals to pay 8%, the unit to pay 20%, these funds together to form an integrated fund for the payment of old-age pensions, there are areas of insufficient funds, the local finances will also be supplemented by some to join the integrated fund. The total amount of the integrated fund and the individual account is not equal, the integrated fund is used to pay the retired personnel, the total amount of the individual account is for the employees.

2. The sources of the social security fund include financial allocations, social security fees (taxes) paid by employers and individuals in accordance with the law into the "integrated account" portion, social donations and so on.

3. Taking the social insurance fund as an example, China's basic pension insurance fund and basic medical insurance fund in the "social integrated account" part of the fund, as well as the unemployment insurance fund, the industrial injury insurance fund, the maternity insurance fund, the social assistance fund, the social welfare fund, and the social welfare fund are all part of the social integrated fund. The integrated social security fund is owned by all insured persons and, within the prescribed level of integration, is managed and transferred for use by the social security administrative body.

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