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A few days ago, Ministry of Human Resources and Social Security held a video conference to start the personal pension system, marking the official start of the personal pension system.
What is the personal pension system? How should workers participate? How does the personal pension system work? The reporter conducted an interview.
Personal pension is a supplementary old-age insurance system.
China's old-age insurance system has three pillars.
The first pillar is basic old-age insurance, including basic old-age insurance for urban workers and basic old-age insurance for urban and rural residents. The basic old-age insurance adopts the mode of combining social pooling with individual accounts, which embodies social economy. By the end of 2002 1, the number of participants had reached1billion, and the accumulated fund was more than 6 trillion yuan. The fund is generally stable and welfare is paid in full and on time.
The second pillar is enterprise annuity and occupational annuity, which are jointly established by employers and their employees, mainly playing a supplementary role and having a good development foundation. By the end of 20021,more than 72 million employees had participated in enterprise (occupational) annuities, and accumulated nearly one trillion yuan, which initially showed the function of supplementary pension.
The third pillar is personal savings endowment insurance and commercial endowment insurance, and there was no unified national institutional arrangement before. "Personal pension is the institutional arrangement of the country on the third pillar, which provides institutional guarantee for realizing individual supplementary pension." The relevant person in charge of Ministry of Human Resources and Social Security said.
According to the person in charge, individual pension is a supplementary pension insurance system with policy support, individual voluntary participation and market operation. The system adopts individual account mode, with individual contributions and complete accumulation.
"In layman's terms, the personal pension system is to encourage qualified people to carry out pension reserves when they are young through policy guidance, and add an accumulation on the basis of basic pension insurance to add another guarantee for the old age." Tsinghua University Academy of Social Sciences distinguished professor Dong Keyong said.
Mo Rong, president of China Labor and Social Security Research Institute, said that for workers, participating in personal pension can better realize the rational distribution of income throughout the life cycle. Accumulate a long-term fund for yourself in the young stage of working ability, and realize the preservation and appreciation of accumulated funds through market-oriented operation, thus increasing the pension income after old age and making the life of the elderly more secure and quality.
In addition, in the short term, participating in the individual pension system can also enjoy preferential tax policies.
"The party and the state attach great importance to the construction of the third pillar endowment insurance system, and have formulated policies such as tax incentives to support it and encourage people to participate extensively." Mo Rong said that participants can enjoy deferred tax payment according to the limit of 1.2000 yuan/year, and the money is directly deducted from comprehensive income or operating income; In the investment link, personal income tax will not be levied on the investment income included in the personal pension fund account for the time being.
Adopt product list management to improve the safety of funds.
After the implementation of personal pension, many people have doubts. Even if you pay 12000 every year for 20 years, the principal will be 240,000 when you retire, and the funds are not too much.
In this regard, Dong Keyong explained that to participate in personal pensions, we should pay attention to the role of compound interest. For example, he said that a young man invested 100 yuan in a pension fund and saved it for 20 years, with an annual interest rate of 3%. Nearly 45% of the final income is investment income, not principal. "Therefore, personal pensions benefit early, and pension investment is not afraid of less, but we must start first."
At the same time, in order to improve the value-added ability of personal pension payment, the implementation of personal pension adheres to market-oriented operation, and encourages qualified financial institutions to design and provide more personal pension products to meet diversified needs.
Specifically, personal pension can be invested in savings deposits, wealth management products, commercial pension insurance, Public Offering of Fund and other financial products, and participants can choose independently according to their preferences.
Dong Keyong suggested that workers of different ages can choose products with different risk preferences. Young people can appropriately choose products with higher risks and higher returns; The elderly should appropriately reduce their risk preference and pay attention to stability.
How does the personal pension work? According to the Measures for the Implementation of Individual Pensions, the accounts of individual pension funds are closed and cannot be withdrawn in advance unless otherwise stipulated. This means that for young people, the investment and operation cycle of this fund may be as long as decades. How to ensure the safety of funds?
"The personal pension system adheres to the principle of government guidance." Dong Keyong said that both the product conditions and the qualifications of enterprises have a link-by-link guarantee mechanism, so ordinary people can invest their money with confidence.
In order to improve security, the product adopts list management mode. All personal pension financial products are determined by the financial supervision department and released and updated through the personal pension information management service platform and the financial industry platform.
"The products we require to enter the' white list' of personal pensions should have the characteristics of safe operation, stable maturity, standardized target and long-term value preservation." The relevant person in charge of Ministry of Human Resources and Social Security said that in addition, in the process of implementing the personal pension system, the human and social departments will adhere to the principle of safety norms, firmly establish risk awareness, strictly supervise and manage, and protect every penny of the people's pensions.
It will be piloted in 36 cities or regions and then promoted nationwide.
Personal pension is officially launched, who can participate?
According to the implementation method of individual pension, all workers who participate in the basic old-age insurance for urban workers or urban and rural residents in China can participate in individual pension.
As the personal pension is a brand-new system, the implementation mode of pilot first and then nationwide promotion is adopted. At present, the system has been piloted in 36 cities or regions such as Beijing, Shanghai, Guangzhou, Xi and Chengdu. All workers who have established the basic old-age insurance relationship in these places can participate in the personal pension regardless of their actual place of work or the place where the personal pension fund account is opened.
From the specific steps, the insured first needs to choose the "personal pension account opening" service through the national social insurance service platform, electronic social security card and other national unified online service portals, or commercial banks and other channels to establish personal pension accounts.
The second step is to open a personal pension fund account through commercial banks, mobile banking or counter channels. It is worth noting that through the channels of commercial banks, the insured can complete the opening of individual pension accounts and individual pension fund accounts at one time.
The third step is to pay the personal pension fund account in one lump sum or in installments in a natural year through cash, mobile banking or personal online banking.
The relevant person in charge of Ministry of Human Resources and Social Security reminded that in the payment stage, the insured can choose to use the "Personal Income Tax" APP to scan the code and enjoy the preferential tax policies when withholding and paying the advance payment or settling the payment.
After the payment is completed, participants can purchase qualified personal pension products through the sales channels of personal pension products.
A few days ago, the China Banking Regulatory Commission announced the list of the first batch of institutions, including six large banks, two joint-stock banks 12, five city commercial banks and one wealth management company 1 1. The CSRC also issued a directory of individual pension fund sales organizations, including 6 banks/KLOC-0, 4 securities companies/KLOC-0 and 7 independent fund sales organizations.
At present, various institutions are actively striving for opening accounts. For example, Agricultural Bank, Industrial Bank, China CITIC Bank and other institutions have set up personal pension accounts in the mobile banking APP, and set up reservation areas.
The list of the first batch of personal pension products has also been released. The Catalogue of Individual Pension Funds issued by CSRC contains 129 pension target fund products. A number of institutions said that they are accelerating the research and development and approval of wealth management products for the elderly.
165438+1On October 26th, Ms. Zhang, who lives in Xiluoyuan Street, Fengtai District, Beijing, opened a personal pension fund account through the China Industrial and Commercial Bank APP and bought a fund of 1000 yuan, becoming the first person in Beijing to buy a personal pension.
What problems should be paid attention to in the pilot process? Experts interviewed said that in the implementation process, attention should be paid to improving the adaptability and safety of the supply of personal pension products.
"The vast majority of participants' financial investment knowledge, experience, time and energy are limited. Therefore, on the one hand, the supply of personal pension products needs to meet the needs and attributes of pension, on the other hand, it needs to adapt to the risk-return preferences, investment ability and behavioral characteristics of participants as much as possible, and enhance the sense of investment experience of participants. " Mo Rong said.
"Personal pension is not only related to individuals, but also to the social security system. It is an important measure to improve China's multi-level and multi-pillar endowment insurance system, which is conducive to actively responding to the aging population. " Mo Rong said that he expects relevant departments to sum up experience through pilot projects, discover new situations and problems in time, and constantly study and improve relevant policies to make new contributions to improving people's livelihood and well-being.