Guangdong endowment insurance rate will rise to 16% within two years

The Guangdong Provincial Department of human resources and social security, the Provincial Department of Finance and the provincial taxation bureau jointly issued the "notice on printing and distributing the transition plan for the payment proportion of basic old-age insurance units for enterprise employees in Guangdong Province". Guangdong Province, the last "depression" of China's old-age insurance rate, decided to increase the old-age insurance rate of enterprise employees from 14% to 16% in two years from January 1 this year. By 2023, after Guangdong Province completes the rate adjustment, China will realize the national unification of the payment proportion of employees' endowment insurance.