Article 72 The sources of social insurance funds shall be determined according to the types of insurance, and social pooling shall be gradually implemented. Employers and workers must participate in social insurance and pay social insurance premiums according to law.

The social security fund in China is mainly composed of three parts:

Social insurance fund: The social insurance fund formed by contributions from enterprises and individuals is the most important part of the social security fund, which mainly includes basic pension, unemployment, medical care, work injury and maternity insurance funds. In recent years, China has adjusted the system structure of social security, pushed the system from a single system to a multi-pillar system, and turned from pay-as-you-go to partial accumulation, and the social insurance fund began to have savings. The pension and unemployment insurance that ordinary people usually receive are paid from this part of the fund.

B. National social security fund: refers to the funds allocated by the central government, the reduction of state-owned shares and the transfer of equity assets, the funds raised by other means approved by the State Council and the funds formed by investment income. The fund is centrally managed and used by the central government.

C supplementary security fund: supplementary security fund is enterprise annuity and supplementary medical insurance, which is formed by contributions from enterprises and individuals.

In addition, the lottery public welfare fund is used to supplement the sources of social security funds.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.