Zhongxin Finance, April 26 (Reporter Li Jinlei) What are the characteristics of the personal pension system?
Why is the annual payment cap set at 12,000 yuan?
How to participate?
What are the benefits for individuals after participating?
For these issues of concern to the common people, the heads of the Ministry of Human Resources and Social Security and other relevant departments made an authoritative response at the State Council's regular policy briefing on the 25th.
Let's see together.
Pension infographic.
Source: Figure Worm Creative
What are the characteristics of the individual pension system?
The personal pension system is different from the basic pension insurance, which is enforced by the state, and the
individual pension is voluntary.
Unlike enterprise annuity and occupational annuity, which are established and paid jointly by the employer and its employees,
individual pensions are only paid by individuals.
Generally speaking, the personal pension system is a supplementary pension insurance system supported by government policies, voluntary participation of individuals, and market-oriented operation.
Li Zhong, deputy minister of the Ministry of Human Resources and Social Security, introduced that the personal pension system has three characteristics: First, it is supported by government policies.
By giving tax incentives support, insured persons are encouraged to participate actively.
The second is voluntary.
That is to have the basics first and then the supplements. You must first participate in the basic pension insurance. If you have this condition, you can voluntarily participate in the personal pension.
The third is market-oriented operation.
Personal pension contributions can be used to purchase financial products such as bank wealth management, savings deposits, commercial pension insurance, and public funds that meet the regulations.
That is to say, what to buy and when to buy it is up to the participants to choose and decide on their own.
Why is the payment cap set at 12,000 yuan?
According to the regulations, the upper limit for participants to pay individual pensions is 12,000 yuan per year.
Nie Mingjun, director of the Department of Endowment Insurance of the Ministry of Human Resources and Social Security, pointed out that this is mainly based on three considerations: First, consider maintaining an appropriate level of supplementary pensions.
The function of personal pension is to supplement the role of old age.
The supplementary level, on the one hand, should be considered in combination with the levels of the first and second pillars to maintain a reasonable total pension level for the three pillars.
On the other hand, it is necessary to avoid too large a gap in pension levels and maintain a reasonable income distribution relationship.
The second is to learn from the previous pilot practice of tax-deferred commercial endowment insurance.
Combined with the pilot situation, the individual pension has adopted a fixed amount method, which is relatively simple, and the annual total amount has also been connected.
The third is to reflect incremental reform.
The initial stage is 12,000 yuan. With the economic and social development, and with the increase in the disposable income of urban and rural residents, the upper limit of payment will be gradually increased in time to better meet the people's needs for supplementary pensions.
How to participate in individual pension?
Nie Mingjun pointed out that first, the conditions for participation are relatively simple.
At present, 1.03 billion people participate in the basic old-age insurance. No matter what kind of employment form the incumbents are, that is, whether they are employed in units or flexibly employed, they are not restricted by employment area and household registration. As long as individuals voluntarily participate, they can participate in this system fairly. When moving across provinces and regions, the rights and interests of individuals are not affected.
Second, the way of participation is more flexible.
In terms of the degree of participation, participants can decide whether to participate in the whole process or part of the year. In terms of payment amount and payment method,
as long as the annual payment cap does not exceed 12,000 yuan in the initial stage, participants can decide how much to pay, and they can either pay once in the current year. Sex payments can also be paid in installments.
Third, it is relatively easy to open an account.
According to the system design, two accounts need to be opened to participate in personal pension: one is to establish a personal pension account on the information platform for information recording, inquiry and service, etc.; the other is to open or designate a personal pension fund account in a bank , which is used to pay fees, purchase products, collect income, etc.
These two accounts are uniquely corresponding to each other, and participants can open them on the National Social Insurance Public Service Platform, the National People's Social Security Administration Service Platform, Electronic Social Security Cards, "Handheld 12333", commercial banks and other channels.
Among them, through commercial bank channels, both accounts can be opened at one time.
Participants can determine the account opening method and account opening bank according to their own preferences.
Fourth, investment is relatively convenient.
Participants can choose bank wealth management, savings deposits, commercial endowment insurance, public funds, etc. according to different preferences, and can also combine short-term, medium-term and long-term.
These operations can be completed in the capital account, and there is no need to run multiple departments and institutions.
Fifth, the collection method is more flexible.
When the participants meet the receiving conditions, they can choose to receive them monthly, in installments or all at once. The commercial bank will transfer the funds from the personal account to the personal social security card bank account of the participant according to the method chosen by the individual.
Under special circumstances,
such as complete loss of working ability, going abroad to settle down, etc., you can also receive it.
What are the benefits for individuals after participating?
Nie Mingjun pointed out that, first, they can enjoy preferential tax policies.
The most direct benefit of individuals participating in the personal pension system is that they can enjoy the preferential tax policies of the state.
Including pension FOF, commercial pension insurance and other financial products, those that meet the conditions can be used as investment products for personal pensions, which are purchased by participants at their own discretion.
Second, it can enrich and diversify the needs of elderly care.
The first pillar of basic old-age insurance is to guarantee basic living, and the second pillar of enterprise annuity and occupational annuity is established by the unit and plays the role of supplementary pension.
Now the addition of personal pensions not only adds another channel for supplementary pensions for those who participate in the second pillar,
but also adds a channel for supplementary pensions for those who do not participate in the second pillar, which enriches the participants' understanding of the future Diversified pension insurance needs.
The third is to help individuals rationally plan pension funds.
After participating in the personal pension, it can be seen from the system design that the funds in the account are closed and can only be accessed during the payment stage. Personal payment and investment income are rolled over in the account, and they can be used when they reach the age of receiving the basic pension and other conditions. Receipt, that is to say, institutionally helps participants to control the export of personal pensions, helps individuals rationally plan pension funds, reasonably choose investment products and investment periods, and
avoid early withdrawals, thus effectively supplementing pensions.
Will you take part in a personal pension?
(Finish)