The main personal tax deductions for personal pensions are: 1. The annual payment of 12,000 yuan will be deducted before tax.

The nature of this pre-tax deduction is actually similar to that of special additional deductions.

This means that as long as the insured person participates in a personal pension, he or she can make special deductions when calculating personal income tax every year. The maximum deduction amount is 12,000 yuan/person/year; 2. The money in the personal pension fund account can be used

To purchase personal pension products, savings deposits, financial products, commercial pension insurance and public funds, etc., the funds earned are investment income, and there is no need to pay transportation tax on investment income; 3. Personal pension

When you reach retirement age and receive funds, you will pay personal income tax at a tax rate of 3%.

This tax rate is already preferential on the basis of the normal tax rate.

Article 11 of the "Social Insurance Law of the People's Republic of China" states that basic pension insurance shall be combined with social pooling and personal accounts.

The basic pension insurance fund is composed of employer and individual contributions as well as government subsidies.