This year's government work report mentioned for the first time that standardizing the development of the third-pillar pension insurance has caused heated discussions-
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my country’s endowment insurance system is a system composed of the “three pillars” of basic endowment insurance, enterprise annuities and occupational annuities, personal savings endowment insurance, and commercial endowment insurance. This is undoubtedly conducive to coping with my country’s aging population and promoting the endowment insurance system. sustainable development.
At present, due to the "one branch" of the first pillar of basic pension insurance, the development of the second pillar of enterprise annuities is slow and the coverage is relatively small, and it is urgent to promote the construction of the third pillar of pension insurance.
With the intensification of population aging, how to enrich the "pocket" of old-age care has become a hot topic of concern.
This year's government work report mentions the third-pillar pension insurance for the first time and proposes to standardize its development.
This plan sparked heated discussion.
What is the third pillar endowment insurance, which groups are suitable for participation, and how much "bargaining chips" can be added to the endowment after participation?
We listen to professionals to calculate this pension account.
The third pillar is a shortcoming in the pension insurance system
What is the third pillar pension insurance?
my country's pension insurance system is a "three-pillar" system.
According to Zheng Bingwen, a member of the National Committee of the Chinese People's Political Consultative Conference and director of the World Social Security Research Center of the Chinese Academy of Social Sciences, the first pillar is basic pension insurance, which is commonly referred to as pension, the second pillar is enterprise annuities and occupational annuities, and the third pillar includes personal savings pensions. Insurance and commercial pension insurance.
"The first pillar is pay-as-you-go, government-led, and basic guarantee; the second pillar is enterprise (professional) annuity, which is led by employers, and benefits can also help employers attract talents; the third pillar is led by individuals, and when working Part of the money is paid before taxes and taxed when you retire. These three pillars work together to support the elderly.” Professor Dong Keyong of the School of Public Administration of Renmin University of China explained to reporters.
From the experience of various countries, the establishment of a multi-level pension insurance system is considered to be an important measure to cope with the aging of the population and promote the sustainable development of the pension insurance system.
In an interview with reporters, Vice Minister You Jun of the Ministry of Human Resources and Social Security introduced that among the three levels of the current pension insurance system, as the first level of basic pension insurance, the system is basically sound. The pension insurance for employees plus the pension insurance for urban and rural residents currently covers nearly ten Billion people.
As the second-level enterprise annuity and occupational annuity system, initially established and gradually improved, it currently covers more than 58 million people.
The first pillar basic old-age insurance covers a wide range of people, but it is “dominant” and the fact that pension accounts for an average of no more than 45% of pre-retirement wages has caused many professionals to worry. With the deepening of aging, basic old-age insurance The pressure on insurance revenue and expenditure will increase day by day.
"The second pillar of enterprise annuities has developed slowly and has relatively small coverage. At this time, we must consider the third pillar as an entry point to speed up the establishment of a multi-level old-age security system." Member of the National Committee of the Chinese People's Political Consultative Conference, Deputy Dean of the School of Insurance, University of International Business and Economics Sun Jie said.
It is imminent to promote the construction of the third-pillar pension insurance.
"As the third level of the personal pension system has not been introduced. Indeed, the third level is still a shortcoming in the entire pension insurance system." You Jun said bluntly.
At the same time, more and more people choose flexible employment.
There is no clear employer for this part of the group. In terms of how to protect the pension rights of this part of the group, the third-pillar endowment insurance led by the individual has high hopes.
The market reflects the pilot policy "It is not easy to say that it is not easy to love you"
In fact, since May 2018, the third-pillar pension insurance has been piloted in Shanghai, Fujian and Suzhou.
The pilot program is clear, and the implementation of personal tax deferred commercial pension insurance.
Policyholders who purchase tax-deferred endowment insurance products can pay the premiums before tax, and then pay personal income tax when they receive the insurance after retirement. The maximum deduction is 1,000 yuan per month before tax.
For many employees who are concerned about buying tax-deferred pension insurance and how much money they can receive when they retire, the China Banking and Insurance Regulatory Commission has calculated an account: assuming that the insured starts to participate at the age of 30, they pay 1,000 yuan per month for insurance, and the product guarantees the income The rate is 3.5%. When he retires at the age of 60, he will pay a premium of 360,000 yuan, with an account value of 618,000 yuan.
Through actuarial calculations, you can get 2,746 yuan a month.
As of the end of April 2020, a total of 23 insurance companies have participated in the pilot program, 19 companies have issued orders, and have achieved a total of 300 million yuan in premium income, with 47,600 people participating in insurance.
The relevant person in charge of the China Banking and Insurance Regulatory Commission said that the personal tax deferred commercial pension insurance pilot is progressing steadily, but the overall scale is not large, and the market generally reflects that the policy is not attractive.
One reason for the lack of attractiveness of the pilot program is that the beneficiary group has been further narrowed due to the personal tax reform.
Zhou Yanfang, a representative of the National People's Congress who participated in the research and formulation of tax-deferred pension insurance policies and deputy general manager of China Pacific Insurance Life Insurance Shanghai Branch, once revealed that when formulating tax-deferred pension insurance policies, the original tax calculation method was largely referred to.
Due to the adjustment of the individual tax policy, the threshold was raised from 3,500 yuan to 5,000 yuan per month, which led to a reduction in the number of taxpayers and the coverage of tax-deferred pension insurance.
Not long ago, at a press conference held by the Information Office of the People's Republic of China, when Luo Xi, Chairman of the People's Insurance Company of China, talked about the salient features of the third-pillar pension insurance, he first mentioned that this is a way for high-income individuals to provide for the elderly.
At the same time, tax incentives are insufficient.
According to Zhou Yanfang, according to the pilot method, the tax rate for workers who need to pay personal tax when they retire is 7.5%. According to the new personal income tax payment policy, workers with a monthly income of less than 8,000 yuan are required to pay the personal tax rate of 3%.
As most of the workers in my country earn less than 8,000 yuan a month, Zhou Yanfang believes that the tax-deferred pension insurance tax policy presents a negative incentive effect.
In addition, the tax deferment ceiling of 1,000 yuan is not attractive enough for high-income earners.
It is recommended to appropriately increase the tax exemption to enhance its attractiveness
"Tax intensity is not enough." Luo Xi suggested that the state should consider comprehensively in many aspects and appropriately increase tax exemption.
Zhou Yanfang agreed with this.
She proposed to increase the pre-tax deduction standard of tax-deferred pension insurance and increase the monthly deduction limit to 3,000 yuan.
And establish a dynamic adjustment mechanism for the amount of tax incentives, reduce or exempt the tax rate at the stage of receiving, increase the attractiveness of products and the coverage of preferential policies.
Currently, tax-deferred pension insurance has problems such as inconvenient participation, cumbersome procedures, and complicated calculations.
Zheng Bingwen believes that a complete third-pillar system design plan that accommodates all financial products should be introduced, so that preferential tax policies are implemented on account holders rather than products, so that account holders can "take all" with one account. All qualified financial products to improve the convenience and accessibility of the third pillar.
"I hope to speed up the experiment, expand the scope of the experiment, and expand the scope." Sun Jie suggested changing the preferential tax policy to a financial subsidy, and paying the low- and middle-income people through financial subsidies, so that more people can participate in insurance commercial pension insurance. Insurance.
The reporter learned that in recent years, the Ministry of Human Resources and Social Security has systematically planned and designed the third-level system model under the framework of a multi-level pension insurance system.
"After sufficient research and demonstration, drawing on international experience, and summing up some domestic pilot experience, preliminary ideas have been formed." You Jun introduced that the general consideration is to establish an account system based on voluntary participation by individuals, and national financial assistance. Tax support is given, and the funds form a personal pension system for market-oriented investment and operation.
According to reports, the next step, the Ministry of Human Resources and Social Security will be implemented as soon as possible to meet the diverse needs and better guarantee the happy life of the elderly.
Li Danqing