Recently, it was learned from the Nanning Human Resources and Social Security Bureau that the “Notice of the Department of Finance and the Department of Human Resources and Social Security of Guangxi Zhuang Autonomous Region on Issuing the Implementation Plan of Reducing Social Insurance Premium Rate” gives a specific requirement of social insurance premium rate. In accordance with the requirements of the plan, Nanning has actively implemented the policy of reducing the social insurance premium rate. Since May 1st this year, the adjustment has been started. After the social security premium rate is reduced, the insured personnel enjoy the same treatment.
After adjustment of the policy, the proportion of unit contributions of the basic endowment insurance for employees of enterprises and institutions in Nanning decreased from 20% to 16%, the current phased reduction policy of unemployment and industrial injury insurance from 2018 is extended to another year, so it’s from May 1st, 2019 to April 30th, 2020, and the implementation of the phased policy on reduction of unemployment insurance rate will goes on. In terms of unemployment insurance, the premium rate paid by the employers and employees is 0.5% respectively. In the case of work injury insurance, the accumulated fund balances as of the end of April 2019 are clarified. The current base rate can be reduced by 20% in the co-ordination area with a monthly payable period of 18 to 23 months. Those areas which meet the request that the accumulated fund balance can be paid with a monthly number of more than 24 months (inclusive) can lower 50% of current benchmark rate. The basic medical insurance and maternity insurance rates of employees are still implemented in accordance with the “Notice of the Nanning Municipal People’s Government on Adjusting the Social Insurance Premium Rate”.