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What is the new national endowment insurance policy?

Many people know old-age insurance. In fact, old-age insurance simply means paying a certain fee when you are young, and you can get a certain social security after retirement. With the improvement of people's living standards and consumption levels, new policies have been put forward for old-age insurance. Next, let's learn about the new national endowment insurance policies?

On March 5, the second session of the 13th National People's Congress opened. The report on the implementation of the central and local budgets in 2018 and the draft central and local budgets in 2019 was submitted to the second session of the 13th National People's Congress for deliberation. According to the budget report, since May 1 this year, the payment proportion of basic old-age insurance units for urban employees has been reduced, and various tax reduction and fee reduction measures have been taken to reduce the burden of enterprise tax and social security payment by nearly 2 trillion yuan throughout the year.

The budget report points out that the proactive fiscal policy in 2019 should be strengthened to improve efficiency, which is reflected in the implementation of more large-scale tax cuts and fee reductions and increased expenditure. In terms of tax reduction and fee reduction, we will deepen the reform of value-added tax, reduce the current 16% tax rate in manufacturing and other industries to 13%, and reduce the current 10% tax rate in transportation, construction and other industries to 9%, so as to ensure a significant reduction in the tax burden of major industries;

We will keep the 6% first tier tax rate unchanged, but by taking supporting measures such as increasing tax deductions for production and living services, we will ensure that the tax burden of all industries will only be reduced but not increased, and continue to move forward in the direction of promoting the combination of three tiers of tax rates and two tiers and simplifying the tax system. Pay close attention to the implementation of the inclusive tax reduction policies for small and micro enterprises introduced at the beginning of the year. We will fully implement the revised individual income tax law and implement six special additional deduction policies.

At the same time, we will significantly reduce the social security payment burden of enterprises. From May 1 this year, we will reduce the payment proportion of basic old-age insurance units for urban employees to 16% in all localities. We will continue to implement the policy of periodically reducing unemployment and work-related injury insurance rates, so as to ensure that the social security payment burden of enterprises, especially small and micro enterprises, will be substantially reduced. We will continue to clean up and standardize administrative fees.

According to the report, various tax reduction and fee reduction measures have reduced the burden of enterprise tax and social security payment by nearly 2 trillion yuan throughout the year. In order to support the implementation of large-scale tax reduction and fee reduction, the central government will increase the profits handed over by specific state-owned financial institutions and central enterprises. Local finance will also take the initiative to tap the potential and revitalize all kinds of funds and assets through multiple channels.