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How much has the social security rate decreased since the fifth adjustment of social security rate

the fifth adjustment of social security rate has come. The executive meeting of the State Council held on November 2 announced the latest policy of social security rate reduction, so how much has the social security rate been reduced?

At the executive meeting of the State Council held on November 2, the latest policy of social security rate reduction was announced: the existing policy that was originally to be implemented until next year -- the total payment proportion of unemployment insurance for employers and employees dropped from 3% to 1% in a phased manner, which will continue to be implemented after the expiration of next April.

This is the fifth time in three consecutive years since 2015 that the State Council has announced the policy of social security rate reduction.

In April this year, you Jun, Vice Minister of the Ministry of human resources and social security, said that since 2015, the social insurance rate has been reduced four times or at different stages. The overall social insurance rate has been reduced from 41% to 37.25%, with an overall decrease of nearly 10%.

He also revealed that the first four tariff reduction policies have reduced the cost of enterprises by 315 billion yuan.

Benefits of lowering social security rates:

1. The function of stabilizing social life.

2. Redistributive function.

3. The function of promoting social and economic development: first, the social insurance system as an important tool of demand management plays a positive role in the economy; second, the effective use of social insurance funds can promote the sustainable prosperity of the economy; third, social insurance becomes the basic condition for enterprises to attract talents.

For small enterprises, the rate of "five insurances" accounts for nearly 40% of the total wage, which is a very high cost for them. In order to encourage the development of these small and medium-sized enterprises, especially labor-intensive enterprises, by reducing their social insurance rates, we can reduce the labor cost of enterprises and encourage the development of small and medium-sized enterprises, especially labor-intensive enterprises.