Compulsory social security activities

NACE code 84.30, 'Compulsory social security activities,' encompasses the administration and operation of social security programs that provide income maintenance coverage for a variety of circumstances, including sickness, maternity, work injury, unemployment, old age, and more. These compulsory social security activities play a vital role in supporting the well-being and financial security of individuals and families within an economy, ensuring a basic standard of living and promoting social cohesion.

The core processes involved in compulsory social security activities include the collection of social security contributions, the management and investment of social security funds, and the disbursement of benefits to eligible recipients. This involves the implementation of robust administrative systems, data management, and coordination with various government agencies and service providers to ensure the efficient delivery of social security programs.

The key inputs required for compulsory social security activities include a well-developed legal and regulatory framework, a skilled workforce of administrators and case workers, and a reliable information technology infrastructure to manage the collection, processing, and distribution of social security funds. Additionally, these activities rely on accurate demographic and economic data to inform policy decisions and program design.

The primary output of compulsory social security activities is the provision of income maintenance benefits and services to eligible individuals and households, such as retirement pensions, disability payments, unemployment benefits, and healthcare coverage. These outputs directly support the 84.10 General public administration activities and 88.10 Social work activities without accommodation sectors, which may utilize the social security system to deliver comprehensive social welfare programs.