10On May 7th, 8, the heads of relevant departments of China Banking Regulatory Commission explained the principles and specific operational details of the pilot implementation for the first time on the Guidelines for the Development of Personal Tax Deferred Commercial Endowment Insurance Products.
Since then, the tax-deferred commercial endowment insurance, which has attracted much attention from the society, has entered the start-up stage.
With the increasing number of elderly people over 60 in China, the pressure of pension payment is increasing.
At present,
China endowment insurance
There are three systems:
Basic endowment insurance for enterprises
endowment annuity
、
Commercial endowment insurance
Tax deferred pension insurance is a kind of commercial insurance.
As a quasi-public product, tax-deferred pension insurance not only has a stable style, but also has a comprehensive guarantee function.
The insured can freely change products and companies, which protects the interests of the insured to the maximum extent.
So what exactly is tax-deferred pension insurance? What are the advantages? Who is suitable? How to buy?
You will know after reading this article!
1. What is tax-deferred pension insurance?
Tax-deferred pension insurance is a kind of pension insurance that can help you delay paying taxes.
In other words, the state will not charge you tax now, and lend you the money to buy endowment insurance, and then pay it when you get the money after retirement.
Simply put, buying tax-deferred pension insurance can help you reduce the tax burden at this stage;
In the process of purchase, it can also accelerate the appreciation of pensions;
When you collect it, you can reduce taxes.
In addition, pay a sum of money every month, when you retire, plus the income of the product (the income is calculated according to compound interest! )
That's a lot of money! This is a real benefit to taxpayers.
Let's look at the basic standards of this kind of insurance:
Insurance conditions: Individuals who have reached the age of 16, have not reached the retirement age stipulated by the state, and meet the requirements of (Caishui [2018] No.22) can participate in tax-deferred old-age insurance products.
Insurance period: a lifelong or long-term product of personal tax deferred commercial endowment insurance, including two stages: accumulation period and collection period, with monthly payment or annual payment.
Collection method: the collection period is not less than 15 years, and the corresponding pension annuity collection amount is determined. The collection methods are divided into life-long monthly payment (or annual payment), guaranteed account value return and regular monthly payment (or annual payment) 15 (or 20).
Tax-deferred pension insurance, when receiving pension in the future, 25% will be exempted from tax first, and the remaining 75% will be taxed at 10%;
In fact, it is equivalent to the tax rate paid later. According to China's current tax rate system, your tax rate is 10% or above, and your tax payment is deferred.
endowment insurance
Don't lose money.
Tax-deferred pension insurance can deduct up to 6% of salary every month, up to 1000 yuan and up to 10000 yuan every year.
How much tax will you pay less?
Due to the complicated calculation method, I arranged the following tax relief according to different incomes:
It can be found that the higher the income, the more tax reduction for tax-deferred pension insurance.
At present, tax-deferred pension insurance is only piloted in a few areas, including Shanghai and Fujian (including Xiamen).
Suzhou Industrial Park
If you happen to be in these three places, you can call for a safe retirement.
Taikang pension
China Life and other insurance companies.
Second, what are the advantages of tax-deferred pension insurance?
Tax deferred pension insurance mainly has the following five advantages:
Advantages: 1: Temporary tax exemption and deferred tax payment.
If you buy tax-deferred old-age insurance, you can be temporarily exempt from tax, with a maximum monthly tax deduction of 1000 yuan.
However, if you get a pension after retirement, you still have to pay back this part of the tax.
The individual's tax deferred amount in the current month, that is, the pension annuity paid in the current month, is determined according to the lower of 6% of the salary and salary of the current month and 1 1,000 yuan.
For example, a salary of 6,000 yuan can be deducted from 360 yuan tax extension, and a salary of 20,000 yuan can be deducted at most 1000 yuan tax extension.
In other words, the maximum tax extension per person is 65438+ 0,000 yuan per month, and 1 10,000 yuan per year.
For the commercial pension income that individuals receive when they meet the prescribed conditions, 25% is tax-free, and the remaining 75% is subject to personal income tax at the proportional rate of 10%.
Compared with similar insurance products in the market, tax deferred insurance products have fewer charging items and lower charging level.
Advantage 2: Fixed savings, earmarking.
Once the tax extension insurance is purchased, the money in the account cannot be taken at will, except for claims due to serious illness, death, total disability and other reasons.
You can only get it when you reach retirement age;
Therefore, for friends who like to buy in buy buy or have no financial planning, this can have the effect of compulsory savings and earmarking.
Advantage 3: reduce investment risk
For most ordinary people, blindly investing in financial products such as stocks and funds is risky.
Personal pension accounts are managed by professional institutions, which can reduce the investment risk to a certain extent and the yield will be higher.
Tax-deferred pension insurance covers the whole life cycle of the insured for decades from the date of payment;
It is not a simple short-term investment behavior, which fully embodies the risk protection function and long-term fund management advantages of insurance, and helps the insured to effectively deal with longevity risks;
The first principle of this kind of product design is a kind of pension annuity with stable income, mainly fixed income and guaranteed income, and providing long-term interest rate protection according to the receiving method chosen by the insured.
Advantage 4: Transparent management
Tax deferred pension insurance products adopt account management mode;
The account provides a variety of product choices, and the premium, handling fee, investment income, total funds and pension collection in each insured person's personal account are clear and transparent, and can be queried at any time.
Advantage 5: convenient conversion
Tax-deferred old-age insurance products give the insured the right of product choice and product conversion.
After the insured chooses to buy the tax-deferred pension insurance products of an insurance company, he can switch products before starting to receive the pension annuity;
Not only can it be converted between different types of products of the same insurance company, but it can also be transferred to tax-deferred endowment insurance products of other insurance companies;
Only the insurance company charges a certain fee according to the value of the product account transferred by the insured.
Since this kind of insurance has these advantages, who is suitable to buy it?
Third, tax extension pension insurance, who is suitable for buying?
First of all, the people who apply the extended old-age insurance mainly include:
Individuals who receive wages, salaries and continuous labor remuneration
Income from production and operation of individual industrial and commercial households
Owners of individual industrial and commercial households with income from contracting and leasing operations of enterprises and institutions.
Sole proprietorship enterprise investor
Natural persons, partners and contract lessees of a partnership enterprise
All individuals who have reached the age of 16, have not reached the retirement age stipulated by the state, and meet the requirements of the Notice on Launching the Pilot Project of Personal Tax Deferred Commercial Endowment Insurance can participate in tax deferred endowment insurance products.
In other words, theoretically, as long as you 16 years old, you haven't retired.
But concentrate on jun or remind everyone:
After all, this insurance is ultimately taxable. If your income is low now, you don't have to pay a tax. Of course, buying is not recommended.
If merged, this part of the insurance can be bought as long as the tax rate is greater than the final pension!
How much is related to many factors, besides income (paid premium), it is also related to the number of premium payment periods (birthday, gender, retirement age), account type, collection method and many other factors.
Tax-deferred old-age insurance adopts the mode of pre-tax deduction at the time of payment and pre-tax deduction at the time of collection, and the scope of tax incentives is directly linked to wage income;
Therefore, not everyone is suitable for participation.
For example, people who don't have to pay taxes at present can't talk about tax incentives.
Because the proportion of social security contributions varies from place to place, this minimum line is different.
Take Shanghai as an example, the tax exemption for 20 18 years is 3,500 yuan, and the contribution ratio of "five insurances and one gold" in Shanghai is 19%.
Therefore, people with a monthly salary of less than 4,320 yuan were not suitable to buy this product.
What are the products of tax-deferred pension insurance?
Next, let's take a look.
4. Tax-deferred pension insurance. What products are there?
In order to meet the differentiated needs of different types of customers and enrich their choices, tax-deferred pension insurance provides a variety of product design types.
On the one hand, customers can choose to buy one or more products according to their own needs, preferences, age and other factors.
On the other hand, insurance companies can also choose to provide one product or multiple products according to their own advantages and specialties.
According to the different income types in the accumulation period of pension funds;
Tax-deferred pension insurance products include four types of products: income-determined, income-guaranteed and income-floating:
Let's take a look at it separately:
Class a products
That is, income-determined products refer to products that provide a certain rate of return (annual compound interest) during the accumulation period, and the income is settled once a month.
Class b products
That is, guaranteed income products refer to products that provide guaranteed income (annual compound interest) during the accumulation period and provide additional income according to the investment situation, and the income is settled once a month or quarterly.
According to different settlement frequency, it is divided into B 1 product (monthly settlement) and B2 product (quarterly settlement).
Class c products
That is, income floating products refer to products that are settled according to the actual investment situation during the accumulation period, and are settled at least once a week.
Then a friend will ask: this product looks ok, so where can I buy it?
Let's take a look at how to buy tax-deferred pension insurance.
5. Where can I buy tax-deferred pension insurance? How to buy?
There are currently three pilot areas:
Shanghai, Fujian Province (including Xiamen) and Suzhou Industrial Park will be rolled out to the whole country after the pilot projects are mature.
The general process of purchase and collection is as follows:
Open a special bank account for personal commercial pension funds.
Buy qualified products
Give the purchase voucher to the company for pre-tax deduction.
Upon receipt, the insurance company will withhold the tax.
In addition, on 20 18, China Banking and Insurance Regulatory Commission, China also announced the first list of insurance companies that can operate tax extension insurance;
* * * 12, of which 9 launched tax deferred products.
Concentrated Jun summarized as follows:
China Life Personal Income Tax Deferred
endowment annuity
Insurance a, B 1 and B2 (version 20 18)
A, B 1, B2 and C (version 2018) of individual tax deferred pension annuity insurance of Pacific Life.
Ping An personal tax deferred pension annuity insurance A, B 1 C (version 20 18).
New China Life Insurance Personal Tax Deferred Pension Annuity Insurance A, B 1 and B2 (Version 2018)
Taiping individual tax deferred pension annuity insurance A and B 1 (version 20 18).
Taikang individual tax deferred pension annuity insurance A, B 1, B2 and C (version 2018)
Taikang Life Insurance Personal Tax Deferred Pension Annuity Insurance A, B 1, B2 and C (Version 2018)
Sunshine Life Personal Tax Deferred Pension Annuity Insurance A, B 1, C (Version 20 18).
A, B 1 and C Taiping Life's individual tax deferred pension annuity insurance (version 20 18)
Concentrated Jun chose a product of Taibao:
We looked at the products of other companies, and the guarantee content is similar.
Taibao's insurance experience is not bad. It can be purchased directly through official website and APP, and the insurance process is relatively smooth, while most companies can only contact agents to purchase.
Let's talk about two issues that everyone is more concerned about:
1. How much can I get from retirement?
To facilitate your understanding, let's take a look at the income presentation table presented by official website:
Mr. A, a 30-year-old employee of a foreign company, bought a personal tax deferred pension to protect his face (version 20 18);
Choose to receive a pension from the age of 60, receive it for life, and pay the monthly premium 1000 yuan;
After deducting the initial cost of 1% from the premium of each period, it will enter the product account (compound interest) to participate in the investment settlement.
Mr. Li paid 360,000 yuan in 30 years, and when he retired at the age of 60, the accumulated value of the account was 630,000 yuan;
You can get a fixed pension of 1 10,000 to life every year, and you can get a pension of 1 10,000 every year after a fixed tax rate.
No matter how the market changes in the future, this income is written into the contract, which provides a steady stream of cash flow for his future pension life.
2. How much tax can you save?
The applicable tax rate will vary according to income.