1. can stabilize social life;
2. Reallocation can be achieved;
3. It can promote economic development;
4. Buying a car and buying a house in most areas is linked to social security, and it is required to pay social security for a certain number of years before buying a car and buying a house locally;
5. The five major insurances included in social security have their own functions. Old-age insurance can be used to receive retirement pensions and pay funeral expenses and pensions; Medical insurance can reimburse medical expenses and enjoy medical insurance benefits after retirement; Unemployment insurance money can be used to receive unemployment insurance money and medical expenses subsidies after unemployment; Work-related injury insurance can be used to pay work-related injury benefits, living care expenses, disability allowances and disability subsidies. Maternity insurance can be used to receive maternity allowance, maternity grants, maternity medical expenses reimbursement and maternity leave enjoyment.
Article 1 of People's Republic of China (PRC) Social Insurance Law
In order to standardize the social insurance relationship, safeguard the legitimate rights and interests of citizens to participate in social insurance and enjoy social insurance benefits, enable citizens to share the fruits of development and promote social harmony and stability, this Law is formulated in accordance with the Constitution.
Article 2 of People's Republic of China (PRC) Social Insurance Law
The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to get material help from the state and society in accordance with the law when they are old, sick, injured, unemployed and have children.