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Two social insurance premium reduction policies extended to April 30, 2022

Nie Mingjun, director of the Pension Insurance Department of the Ministry of Human Resources and Social Security, recently stated at the “Ministry of Human Resources and Social Security Press Conference for the Fourth Quarter of 2020” that the phased reduction and exemption of social insurance premiums is a temporary support policy and has expired at the end of 2020. The three social insurance premiums have resumed normal collection in accordance with regulations since January 1, 2021. At the same time, considering that the risk of the epidemic still exists, some companies may be under greater pressure, after the policy of phased reduction of unemployment insurance and work-related injury insurance rates expires at the end of April this year, it will be extended for another year to April 30, 2022.