With the implementation of the personal pension system that has been brewing for many years, a new era of "personal pension" is about to open, which is connected with basic pension insurance and enterprise (occupational) annuity.
What are the main points of the personal pension system?
After the publication of the Opinions, who can participate in the insurance, how to pay, how much to pay, how to receive it and preferential policies have become topics of public concern.
The opinion stipulates that workers who participate in the basic old-age insurance for urban workers or the basic old-age insurance for urban and rural residents in China can participate in the individual old-age insurance system. According to the data of Ministry of Human Resources and Social Security, by the end of 2002 1, 1 1, the number of people participating in the national basic old-age insurance was as high as1100 million, that is to say, the vast majority of people in China can pay personal pensions.
As for how to pay and the amount of payment, the Opinions stipulate that the personal pension shall be subject to the personal account system, and the payment shall be borne by the insured person and accumulated in full. The maximum annual personal pension paid by the insured is 12000 yuan. Ministry of Human Resources and Social Security and the Ministry of Finance timely adjust the payment ceiling according to the level of economic and social development and the development of multi-level and multi-pillar endowment insurance system.
Zhang Yinghua, executive researcher of the World Social Security Research Center of China Academy of Social Sciences, said in an interview with Tianmu news reporter that the personal pension system will start from the pilot. At present, the upper limit of individual pension payment is still relatively low, and will gradually increase with the increase of the number of insured persons in the future.
After payment, where does the personal pension flow? According to the Opinions, the funds in individual pension fund accounts are used to purchase financial products such as bank wealth management, savings deposits, commercial pension insurance and public offering funds that meet the requirements. , safe, mature, stable and standardized, focusing on long-term preservation to meet the preferences of different investors. Participants can make their own choices.
In addition, regarding the collection method, the Opinions stipulate that the insured who have reached the age of receiving the basic pension, completely lost their ability to work, settled abroad or have other circumstances that meet the requirements of the state can receive the personal pension on a monthly, phased or one-time basis after verifying the collection conditions through the information platform. Once the collection method is determined, it cannot be changed. When receiving, the personal pension should be transferred from the personal pension fund account to my social security card bank account. After the death of a participant, the assets in his personal pension fund account can be inherited.
Zhu, research director of China Insurance and Pension Research Center of Wudaokou Finance College in Tsinghua University, said: "Because everyone's actual life span is different, we should encourage the way of collecting lifelong annuities. On the condition of the survival of the insured, you can receive a life annuity, that is, as long as the individual survives, you can receive a pension, which can avoid the financial risks brought by the actual life expectancy. "
What is the significance of individual pension system?
According to Xinhuanet
"Incorporating personal pension into a multi-level and multi-pillar pension system, as the main body of the third pillar, may be an important institutional arrangement for China's basic old-age insurance system to cope with the aging population and the increasing burden of support." Zhang Yinghua said that in a broad sense, the personal pension system can promote the public to divide money into several parts, turn short-term money into long-term money, and turn the bank savings of the elderly into a pension asset. This is also a kind of national financial education and pension financial education.
Personal pension, also known as the "third pillar" of old-age insurance, constitutes the "three pillars" of China's old-age insurance system together with basic old-age insurance (the first pillar), enterprise annuity or occupational annuity (the second pillar).
"As the third pillar of the pension system, the personal pension system has far-reaching significance." Zhu said that the outstanding problems in China's current pension system include: the total amount of pension assets is insufficient and it is difficult to meet the requirements of aging; The structure of the pension system is unbalanced, with the first pillar leading and the second and third pillars lagging behind; As the first pillar, the basic old-age insurance is facing great pressure of sustainable development. "Developing the third pillar of pension can increase the scale of pension assets and their supporting capacity, correct the structural imbalance of pension system, and enhance the sustainable development capacity of basic pension insurance."
As for the personal account system for personal pension, Zhu told reporters that the accumulation mode of account system is conducive to the transformation of short-term savings into long-term pension assets, which can increase the scale of pension assets and their supporting capacity, correct the structural imbalance of pension system, and enhance the sustainable development ability of basic pension insurance. In addition, we can also gather long-term pension funds to hedge the adverse effects of the decline in savings rate and investment rate on economic growth under the background of aging population.
It is worth noting that in order to encourage qualified personnel to participate in the personal pension system and receive personal pensions according to regulations, the state may formulate relevant preferential tax policies.
"Preferential tax policies are conducive to increasing demand and participation enthusiasm and expanding the coverage of the third pillar." Zhu believes that tax incentives can be expanded on the basis of the previous personal tax deferred commercial endowment insurance pilot, while reducing the tax rate in the collection stage and simplifying the pre-tax deduction process.
At present, the personal pension system will be tried out in some cities 1 year, and then gradually pushed forward. Zhang Yinghua said that the personal pension system is still relatively broad, and it is necessary to explore policies in the future. If the relevant supporting policies are introduced, it may be conducive to faster progress. For example, the establishment of management information platform, the introduction of supporting policies on taxation, and the selection of participating institutions and products by securities and financial supervision departments.