This Regulation is enacted in accordance with the Social Insurance Law of the People's Republic of China, aiming at regulating the management and operation of the national social security fund, strengthening the supervision of the national social security fund, and realizing fund maintenance and appreciation under the premise of ensuring safety. The Regulation consists of 5 Chapters: General Provisions; Management and Operation of the National Social Security Fund; Supervision of the National Social Security Fund; Legal Liabilities; Supplementary Provisions. The state shall set up the national social security fund. The national social security fund is the national social security reserve fund used to supplement and adjust social security expenditures such as pension insurance during the peak period of the aging of population. The plans for the collection and use of the national social security fund shall be determined by the State Council. The National Council for Social Security Fund shall be responsible for the management and operation of the national social security fund and regularly report the management and operation of the National Social Security Fund to the financial department and the social security administrative department of the State Council, and submit financial accounting reports.
China · 2016-03-10