Yesterday (25th), the whole society was generally concerned that the personal pension system, which is related to your life after retirement, was launched.

The Ministry of Human Resources and Social Security, the Ministry of Finance, and the State Administration of Taxation issued a notice clarifying that the personal pension system will be launched in 36 pioneer cities and regions including Beijing, Tianjin, Shijiazhuang, Xiongan New Area, Hebei, and Jincheng, Shanxi.

Qualified people in pioneer cities can voluntarily participate in the personal pension business.

At present, the first batch of 23 commercial banks announced by the China Banking and Insurance Regulatory Commission that can launch personal pension business are successively conducting docking tests with the personal pension information management service platform of the Ministry of Human Resources and Social Security.

The list of commercial banks that have completed the docking test is published on the National Social Security Public Service Platform, and the public can inquire through this platform and electronic social security cards and other channels.

The Ministry of Human Resources and Social Security will update the relevant list in real time based on the access status of the commercial bank system.

Accelerate the construction of a multi-level and multi-pillar pension insurance system. I believe that everyone hopes that their old age life will be more comfortable and of higher quality, which is inseparable from certain economic security.

First of all, what is a personal pension? To understand this question, we must first start with our country’s pension insurance system.

my country's multi-level pension insurance system mainly includes "three pillars".

The first pillar is basic pension insurance, including basic pension insurance for urban employees and basic pension insurance for urban and rural residents.

The first pillar is based on ensuring the basics, adopting an institutional model that combines social planning and personal accounts, reflecting the social economy, and has a relatively complete institutional system.

At present, the number of people covered has reached 1.05 billion, and the accumulated fund is more than 6 trillion yuan. The operation of the fund is generally stable, and benefits are paid in full and on time.

The second pillar is enterprise annuity and occupational annuity, which are established by employers and their employees. They mainly play a supplementary role and have a good foundation for development.

As of the second quarter of 2022, more than 75 million employees have participated in enterprise (occupational) annuities, with an accumulated fund of nearly 4.7 trillion yuan, and the role of supplementary pensions has initially emerged.

The third pillar is personal savings pension insurance and commercial pension insurance, which specifically includes personal pensions and other personal commercial pension financial services.

Previously, there was no unified institutional arrangement across the country, which was a shortcoming of the multi-level pension insurance system.

Jia Jiang, Deputy Director of the Pension Insurance Department of the Ministry of Human Resources and Social Security: Personal pension is an institutionally arranged part of the third pillar. It is a supplementary pension insurance system supported by government policies, voluntarily participated by individuals, and operated in a market-oriented manner.

The establishment of the personal pension system is an important measure to improve my country's multi-level and multi-pillar pension insurance system, and is conducive to promoting the sustainable development of my country's pension insurance system.

Sun Jie, deputy dean of the School of Insurance at the University of International Business and Economics: (Personal pensions) are government-led and market-operated. It includes not only commercial pension insurance, but also public funds, wealth management products, and trust funds.

To sum up, personal pension refers to a supplementary pension insurance system supported by government policies, voluntarily participated by individuals, and operated in a market-oriented manner. It adopts a personal account model and is paid by individuals. It implements full accumulation and market-oriented operation, and is combined with basic pension insurance and basic pension insurance.

Enterprise and occupational annuities are connected.

You can enjoy these preferential policies when purchasing a personal pension. From this point of view, personal pensions are actually supplementary pension insurance.

Since we already have basic pension insurance, and some units also have corporate annuities, why do we need to buy personal pensions? What preferential policies can we enjoy by participating in the personal pension business? Mo Mo, President of the China Academy of Labor and Social Security Sciences

Rong: It helps us personally plan and arrange our future pensions. Personal pensions are implemented in individual accounts. We can purchase corresponding financial products that comply with regulations according to needs. These financial products have passed government review and there is a white paper.

List.

In addition, policy support for personal pensions is mainly reflected in tax preferential policies.

The announcement on personal income tax policies for personal pensions issued by the Ministry of Finance and the State Administration of Taxation shows that in the payment process, individual contributions to personal pension fund accounts shall be included in comprehensive income or operating income according to the limit standard of 12,000 yuan per year.

Actual deduction; in the investment stage, personal income tax is not levied on the investment income included in the personal pension fund account for the time being; in the receiving stage, the personal pension received by the individual is not incorporated into the comprehensive income, and the personal income tax is calculated and paid separately at a tax rate of 3%.

, the taxes paid are included in the "wage and salary income" item.

Sun Jie, deputy dean of the School of Insurance at the University of International Business and Economics: After the market operates, it is a closed operation. In fact, it is a way for individuals to save more money for their future, and then the government provides tax incentives.

For individuals, it is also beneficial, one is the tax saving effect, and the other is an extra layer of protection for the future.

Who can participate in the personal pension business? It can provide an extra layer of protection for life in old age, so the personal pension system has naturally attracted much attention.

Previously, the implementation measures jointly issued by the Ministry of Human Resources and Social Security, the Ministry of Finance and other five departments clearly stated that the personal pension system has broad coverage.