What is the role and significance of social insurance?

Role:

After the 2008 international financial crisis, the central government further accelerated the construction of the social security system, expanded social assistance, promoted universal medical insurance, established a universal pension system, and built a large-scale security system Sexual housing and social security have rapidly benefited all people. Not only has China’s economy not fallen into a downturn along with the world economy.

And because urban and rural residents’ worries have been greatly alleviated and domestic consumption has steadily increased, it has taken the lead in stabilizing and rebounding, and then is on the track of rapid development. Social security releases powerful positive energy that promotes economic and social development.

Significance:

my country's economic development has entered a new normal, and the pace of economic structural adjustment and development mode transformation has accelerated, which requires a mature and stereotyped social security system to provide strong support. While maintaining social stability and ensuring people's livelihood, the modern social security system also plays an important role as a booster of economic development and a stabilizer of economic operations.

Extended information

The social insurance system must properly handle the following four relationships:

First, the relationship between welfare growth and responsibility sharing. Welfare growth is a reasonable demand of urban and rural residents and the mission of governments at all levels. However, welfare responsibilities must be reasonably shared among the government, enterprises, individuals and society. Otherwise, the imbalance of responsibilities will inevitably lead to the unsustainability of the system.

The second is the relationship between respecting the development laws of the social security system and respecting China’s national conditions. We can neither transcend the actual national conditions on the grounds of following the laws of system development, nor distort the system on the grounds of the actual national conditions. Both must be rationally considered.

The third is the relationship between government leadership and the role of the market and society. Government leadership is the foundation for ensuring that the social security system is fair and universally beneficial. However, the boundaries of government responsibilities should be clearly defined. While adhering to the economic principles of fairness and mutual assistance, public policies should be used as much as possible to mobilize market and social forces and continue to grow. The material basis and service capabilities of social security.

The fourth is the relationship between basic security and supplementary security. We should first determine the goals and levels of the basic security system, and then create conditions for the development of supplementary security and market-oriented services.

People's Daily - People's Daily: Social security releases powerful positive energy