How much is the tax rate of 7.5% to 3%?

Economic Observation Network reporter Jiang Xin on the evening of September 27, the market was brushed by a message, and the core tax preferential policy of personal pension system was clear -the payment of the payment was deducted from the limit of 12,000 yuan per year, and the investment income was income. Without tax levy, the actual tax burden of receiving revenue will be reduced from 7.5%to 3%.

This also means a key step in the construction of a personal pension system. For individuals, the discounts in taxation directly affect the money bags of the participants. Whether it is a young and young people who pay attention to the pre -tax deduction, or the wealthy people who pay attention to the income of tax -free investment, they will have greater enthusiasm in participation.

So, why is the system designed like this? What are the benefits of tax discounts to?

To answer these questions, start with the system design itself.

In April of this year, the State Council issued the "Opinions on Promoting the Development of Personal Pension" (hereinafter referred to as: "Opinions") clearly that workers who participated in the basic pension insurance of urban employees or basic pension insurance for urban and rural residents in China can participate in personal pensions system. Participants pay the upper limit of personal pensions per year is 12,000 yuan. Personal pensions implement a personal account system, and the payment is completely borne by the participants and fully accumulate.

The "Opinions" also stated that the state formulates preferential tax policies to encourage eligible persons to participate in the personal pension system and receive personal pensions in accordance with regulations. Therefore, what the market is most expected at that time is what kind of preferential tax policies will be launched.

In fact, there have been similar attempts in my country before. On April 2, 2018, the five departments officially issued the "Notice on the Pilot of Personal Tax Defending Commercial Pension Insurance" (hereinafter referred to as the "Notice") and decided to be in Shanghai and Fujian Province (Including Xiamen City) and Suzhou Industrial Park implemented a pilot of personal tax deferred commercial pension insurance.

According to the pilot system, people who pay the taxes over 16 years of age and have not been full of legal retirement age can participate in the insurance. After the insured reaches the state regulations, the insurer can apply for a pension fund. The payment period of the payment period is 6%, 1,000 yuan/month or 12,000 yuan/year of the monthly wage of the monthly/year salary, and the tax exemption of 25%of the commercial pension income of the commercial pension period, and the remaining 75%calculate at a tax rate of 10%. Personal income tax (that is, the actual tax rate for receiving the period is 7.5%).

The pension is divided into a lifelong or 15 -year or 20 -year fixed period of collection. You can choose to receive two methods on a monthly or year -on -year method. For example, a 30 -year -old insurer's insured income determined tax extension product is calculated at an annual payment of 12,000 yuan in annual payment at the highest tax delay. 4200 yuan; the period of 20 years will be received.

It is not difficult to find that under the framework of the personal pension system, it has been upgraded. For 30 years of payment, the amount of 4,200 yuan per month will be received in 15 years.

In response to the pilot of tax extension, Li Jinhui, deputy director of the Jiangsu Banking Regulatory Bureau, has done such a calculation in the article "China Finance" magazine. The pilot policy stipulates that the insured person must pay the tax at 7.5%of the amount received after retirement. At the time of receiving, the payment base contains all investment income and currency time costs. Policy discounts are of great significance to the insurance crowd of 10%(monthly income of 8,000 to 17,000 yuan) in the current personal income tax rate. The insured groups with income of 5,000 to 8,000 yuan) will even have inverted tax rates and current tax rates, which will greatly weaken the enthusiasm of insurance participation in the above group. From the perspective of the pilot situation, high -income people with a tax rate of more than 20%or more have the most power to buy tax extension products, but the proportion of these people is relatively limited. After the tax rate is reduced to 3%, the attractiveness of the participation of groups with a monthly income of more than 5,000 yuan is increased.

"The state supports the establishment of a personal pension system through tax policies, and complement each other with other market -oriented personal business pension financial business. Therefore, the most direct benefit of individuals to participate in the personal pension system is to enjoy the national tax preferential policy. "Nie Mingyi, the director of the Ministry of Human Resources and Social Security, said at the press conference of the National New Office.

In the design of the "Notice", in addition to clarifying the maximum limit of the participants' annual payment of personal pensions is 12,000 yuan, it also stated that the Ministry of Human Resources and Social Security, the Ministry of Finance according to the level of economic and social development and multi -level, multi -pillar pension insurance system development, etc. The factors adjust the upper limit of the payment in a timely manner.

At present, how many groups can the deduction of 12,000 yuan cover?

According to the "Statistics of the Development of Human Resources and Social Security Career in 2021" released by the Ministry of Human Resources and Social Security, as of 2021, the number of basic pension insurance for urban employees was 48.074 million (34.917 million employees participating in insurance employees), and the basic pension of urban and rural residents participated in The number of insurers was 54.797 million (the actual number of benefits was 16.213 million).

Some experts said that in addition to all urban employees, the binary labor market also urgently needs personal pensions. In addition, compared with the first and second pillars, the third pillar can sink, reach, and cover them to informal employment. In addition to regular employment personnel, flexible employment and other personnel should also plan individual pension issues.

In terms of product selection, the "Notice" states that personal pension participants can freely choose financial products that can be purchased by assets in the account. After years of development, my country's third pillar pension insurance products have covered banks, insurance, funds and other fields. With reference tax extension of the elder insurance, since the pilot 2018, the CBRC has approved a total of 23 insurance companies to operate tax extension of the elder insurance, and a total of 66 tax extension insurance products have been launched. Class A is a fixed income product, Class B1 is a bottom -revenue product (monthly knot), Class B2 is a bottom -revenue product (seasonal), and Class C is floating income products. After the contract takes effect, the insured person can flexibly conversion between different types of products according to his own needs.

After the personal pension system is implemented, the choice of participants will also expand from insurance companies to banks, public funds, securities companies and other financial institutions, which can better meet the needs of different risk preferences.

In terms of personal accounts, it is understood that there are already pilot state -owned banks for the first batch of personal pension accounts for the first small number of customer groups. Relevant customers can see the "personal pension" area on the bank's mobile banking app. The area shows "You have not signed a personal pension account" and set up the "Signing" button.

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