Legal analysis: National Social Security Fund (hereinafter referred to as social security fund): refers to the funds allocated by the reduction of state-owned shares and equity assets and the funds allocated by the central government, which are managed by the National Social Security Fund Council (hereinafter referred to as the Council).

Social security funds raised by other means with the approval of the State Council and managed by the central government 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. Social security fund consists of social security fund and social insurance fund.

Legal basis: National Social Security Fund Regulations

Article 2 The State establishes the National Social Security Fund.

The National Social Security Fund consists of central budget allocation, state-owned capital transfer, fund investment income and other funds raised by the State Council.

Article 3 The national social security fund is the national social security reserve fund, which is used to supplement and adjust social security expenditures such as endowment insurance during the peak period of population aging.