CCTV news:Yesterday (November 25), the personal pension system, which is widely concerned by the whole society and concerns you and me after retirement, was launched. The Ministry of Human Resources and Social Security, the Ministry of Finance, and the State Administration of Taxation issued a notice specifying that the personal pension system will be implemented in 36 pilot cities and regions including Beijing, Tianjin, Shijiazhuang in Hebei, Xiongan New District, and Jincheng in Shanxi. Qualified people in the leading cities can voluntarily participate in the personal pension business.
At present, the first batch of 23 commercial banks announced by the China Banking and Insurance Regulatory Commission that can start personal pension business are gradually conducting docking tests with the personal pension information management service platform of the Ministry of Human Resources and Social Security. The list of commercial banks that have completed the docking test is published on the national social insurance public service platform, and the public can inquire through channels such as the platform and electronic social security cards. The Ministry of Human Resources and Social Security will update the relevant list in real time according to the access status of the commercial bank system.
I believe that everyone hopes that their old age life will be more comfortable and of higher quality, which is inseparable from certain economic security. First, what is a personal pension? To clarify this issue, we must first start with our country’s pension insurance system.
my country’s multi-level pension insurance system mainly includes “three pillars”. The first pillar is basic endowment insurance, including basic endowment insurance for urban employees and basic endowment insurance for urban and rural residents. The first pillar is based on ensuring the basics, and adopts an institutional model that combines social pooling and personal accounts to reflect social solidarity and has a relatively complete institutional system. At present, the number of people covered has reached 1.05 billion, and the accumulated fund is more than 6 trillion yuan. The operation of the fund is generally stable, and the benefits are paid in full and on time.
The second pillar is enterprise annuity and occupational annuity, which are established by employers and their employees. They mainly play a supplementary role and have a good foundation for development. As of the second quarter of 2022, more than 75 million employees have participated in enterprise (occupational) annuities, and the accumulated funds have reached nearly 4.7 trillion yuan, and the supplementary pension effect has initially emerged.
The third pillar is personal savings pension insurance and commercial pension insurance, specifically including personal pensions and other personal commercial pension financial services. Previously, there was no national unified institutional arrangement, which was the shortcoming of the multi-level pension insurance system.
Jia Jiang, deputy director of the Pension Insurance Department of the Ministry of Human Resources and Social Security:Personal pension is the part of the third pillar that has institutional arrangements. It is a supplementary pension insurance system with policy support from the government, voluntary participation by individuals, and market-oriented operation. The establishment of the personal pension system is an important measure to improve my country’s multi-level and multi-pillar pension insurance system, which is conducive to promoting the sustainable development of my country’s pension insurance system.
Sun Jie, Deputy Dean of the School of Insurance, University of International Business and Economics:(Personal pension) is government-led and market-operated, and includes not only commercial pension insurance, but also public funds, wealth management products, and trust funds.
To sum up, personal pension refers to the supplementary pension insurance system supported by government policies, voluntary participation by individuals, and market-oriented operation. Enterprise and occupational annuities are linked together.
From this point of view, personal pensions are actually supplementary pension insurance. Since we already have basic pension insurance, and some units also have enterprise annuities, why do we need to purchase personal pensions? What preferential policies can be enjoyed by participating in the personal pension business? Come and listen to the analysis of experts.
Mo Rong, President of the Chinese Academy of Labor and Social Security Sciences:It is helpful to help us personally plan and arrange our future pension. Our personal pension implements personal accounts, and we can purchase corresponding financial products that meet the regulations according to our needs. These financial products have passed the review of some governments. There is a white list.
In addition, the policy support for personal pensions is mainly reflected in preferential tax policies. According to the announcement of the Ministry of Finance and the State Administration of Taxation on personal income tax policies related to personal pensions, in the payment link, the individual’s payment to the personal pension fund account shall be included in the comprehensive income or operating income according to the limit standard of 12,000 yuan per year. In the investment link, the investment income included in the personal pension fund account is not subject to personal income tax for the time being; in the receiving link, the personal pension received by the individual is not included in the comprehensive income, and the personal income tax is calculated and paid separately at a tax rate of 3%. , the taxes paid are included in the item of “income from wages and salaries”.
Sun Jie, Deputy Dean of the School of Insurance, University of International Business and Economics:After the market operates, it is actually a closed operation, so it is actually a way for individuals to save a sum of money for themselves in the future, and then the government provides tax incentives, so this is actually beneficial to individuals of. Therefore, one is the effect of tax saving, which is actually an extra guarantee for the future.
It can provide an extra level of security in old age, and the personal pension system naturally attracts attention. The implementation measures jointly issued by five departments including the Ministry of Human Resources and Social Security and the Ministry of Finance made it clear that the personal pension system has a wide range of coverage. So who exactly can join the personal pension system, and why do you make such a regulation?
Sun Jie, Deputy Dean of the School of Insurance, University of International Business and Economics:The people who participate in the personal pension system now should be some basic groups covered by the basic pension insurance. If there is no first pillar, the insurance participation records of the basic pension insurance cannot be entered into the system, nor can they enjoy the preferential treatment of tax deferral.
From the perspective of system functions, only by participating in the basic endowment insurance and realizing the premise of guaranteeing the basics, can the participation in individual pensions reflect the function of supplementary endowment insurance. In terms of coverage, my country’s basic pension insurance system has achieved full coverage of the system, and the number of people participating in the insurance has reached 1.05 billion, basically covering the working-age population. On this basis, if willing workers participate, they can realize long-term personal pension payment and continuously increase the accumulation of funds in personal accounts.
The personal pension business was first implemented in 36 leading cities and regions. How to operate the whole process from account opening to receipt? Take a look.
Step 1: Through the national unified online service portal or channels such as commercial banks, select the service of “opening a personal pension account” to establish a personal pension account.
Step 2: Open a personal pension fund account through channels such as mobile banking or counters of commercial banks. Through commercial bank channels, participants can complete the opening of personal pension accounts and personal pension fund accounts at one time.
Step 3: Make one-time or installment payment to the personal pension fund account within a natural year through cash, mobile banking or personal online banking. It should be noted that the personal pension payment is subject to limit management. The current annual payment limit is 12,000 yuan, and payment beyond the limit is not allowed.
Step 4: In the payment stage, choose to use the “Individual Income Tax” APP to scan the code, etc. during the withholding and prepayment, that is, the income from wages and salaries, the withholding and prepayment of labor service income according to the cumulative withholding method, or the settlement and payment. way to enjoy preferential tax policies.
Step 5: Purchase compliant personal pension products such as savings deposits, wealth management products, commercial pension insurance, and public funds through the sales channels of personal pension products.
Step 6: When receiving, through commercial bank channels, you can choose to receive personal pensions on a monthly, installment or one-time basis. After the commercial bank agency withholds and pays the personal income tax, it will be transferred to the personal social security card.
Information about the whole process of individual participation in personal pensions is available through the national unified online service portal to inquire about personal rights and interests such as personal pension related accounts, payment, transaction, and receipt, as well as personal pension products and issuers.
Finally, there is another question that everyone is particularly concerned about. After the money is deposited into the personal pension account, how can the money be used, and how can it maintain and increase its value?
In the “Personal Pension Implementation Measures”, it is clear that the personal account system is implemented for personal pensions, and the payment is completely borne by the participants themselves. Fully accumulated, enjoy preferential tax policies in accordance with relevant state regulations.
The “Implementation Measures” stipulate that participants independently determine the types and amounts of personal pension products purchased with funds in their personal pension fund accounts. Sales agencies of personal pension products shall follow the principle of “sales appropriateness” and provide risk warnings, and shall not actively recommend personal pension products to participants that exceed their risk tolerance.
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责编：王宏泽 ]