On April 4th, the "Comprehensive Plan for Reducing Social Insurance
Rate" was released, and the program will be implemented on May 1. This
year, it is expected to reduce the burden of 300 billion yuan for
According to the plan, the province's basic endowment insurance
(including enterprises, institutions and institutions), the proportion
of provinces with a contribution rate higher than 16% fell to 16%.
Compared with the current 20% or 19% rate level in most provinces, this
rate is reduced by 3-4% at a time, which is equivalent to a 1/5
The financial department and the human and social departments have
formulated countermeasures to ensure that the pensions are paid in full
and on time.
1. Increase financial subsidies at all levels. In 2019, the central
government allocated 528.5 billion yuan of basic endowment insurance
subsidies for enterprise employees, a year-on-year increase of 9.4%.
Local finance will also arrange corresponding subsidy funds.
2. increase the proportion of the central adjustment fund. This year,
the proportion of basic pensions in each province is expected to
increase from 3% in 2018 to 3.5%. It is estimated that the size of the
central adjustment fund will reach 600 billion yuan in 2019, and the
benefit of the beneficiary province will reach 160 billion yuan.