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The Circular on Periodically Reducing the Social Insurance Rate of Urban Employees in Shanghai Municipality

2018-5-17

Shanghai Municipal Human Resources and Social Security Bureau Document NO.14, 2018

Issued by Shanghai Municipal Human Resources and Social Security Bureau and Shanghai Municipal Finance Bureau

To the People's governments of all districts, all the Municipal Committees, offices, Bureaus, the Municipal Social Insurance Business Management Center, the Municipal Employment Promotion Center:

In order to optimize the business environment of the Municipality, reduce the burden of the employing units and promote the steady development of the entity economy in the Municipality, in accordance with the relevant provisions of the State’s policy ,with the consent of the Municipal Government, and on the premise of ensuring the standards of social insurance treatment and the normal operation of the social insurance fund, the Municipality shall periodically reduce the social insurance rate for urban employees from May 1,2018 to April 30,2019, as follows:

1. The Municipality will continue to implement the provisions on minimum unemployment insurance rate which are included in the “The Circular on Adjusting the Social Insurance Rate of Urban Employees in Shanghai Municipality(Shanghai Municipal Government Document  No. 48,2017)”, which means continuing to implement the 1% unemployment insurance rate(0.5% from the employers and the other 0.5% from the employees).

2. In the industries from the Category I to Category VIII, the Municipality will reduce the employment injury insurance basic rate by 50%, which means periodically and respectively reducing the rate from“0.2%,0.4%,0.7%,0.9%,1.1%,1.3%,1.6%,1.9%”to “0.1%,0.2%,0.35%,0.45%,0.55%,0.65%,0.8%,0.95%”.

When the social security agencies assess the employment injury insurance floating rate of the employing units in accordance with “The Circular on Printing and Distributing ‘the Management Procedures of Calculating the Employment Injury Insurance Floating Rate in Shanghai Municipality’ (Shanghai Municipal Human Resources and Social Security Bureau Document NO.4, 2016)”, the social security agencies shall implement the newly adjusted industry basic rate.

3. This circular shall be effective from May 1, 2018 to April 30, 2019.

(In case of any discrepancy between the English translation and the original Chinese text, the Chinese text shall prevail.)