social security funds

What is social security funds?

social security funds definition and meaning on Finance terms:
A sector defined in the ESA 2010 as comprising all central, state and local institutional units, the principal activity of which is to provide social security benefits and which fulfil both of the following two criteria: (i) certain groups of the population are required by law or by regulation to participate in the scheme or to pay contributions; and (ii) the general government is responsible for the management of the scheme. <