Compulsory social security activities

NACE code 84.3, 'Compulsory social security activities,' encompasses the administration and operation of social security programs. These programs provide mandatory coverage for retirement, disability, sickness, maternity, and unemployment benefits, as well as other forms of social assistance. This industry plays a crucial role in supporting the well-being of citizens and maintaining social stability within the broader economy.

The core activities within this industry involve the collection of social security contributions, the management of social security funds, and the distribution of social security benefits to eligible individuals. This is typically done through a centralized government agency or social security administration, which oversees the implementation and enforcement of social security laws and regulations.

The main inputs required for this industry include a robust legal and regulatory framework, a skilled workforce of administrators and case workers, and a reliable system for collecting and managing social security contributions. Additionally, the industry relies on advanced information and communication technologies to efficiently process claims, maintain records, and disburse benefits.

The primary output of this industry is the provision of social security benefits and assistance to the population. These benefits can include old-age pensions, disability payments, unemployment benefits, and various forms of social welfare. The outputs of this industry are consumed by 88.1 Social work activities without accommodation and 88.9 Other social work activities without accommodation, as well as by the general public who receive the social security benefits.