Zhongxin Finance April 26th (Reporter Li Jinlei) What are the characteristics of the individual pension system? Why is the annual payment ceiling 12,000 yuan? How to participate? What are the benefits of personal participation?
On the 25th, the heads of relevant departments such as the Ministry of Human Resources and Social Security made an authoritative response at the routine briefing of the State Council policy. Let’s watch together.
What are the characteristics of individual pension system?
The individual pension system is different from the basic old-age insurance, which is enforced by the state.Personal pension is voluntarily participated by individuals.Unlike enterprise annuities and occupational annuities, which are established by employers and their employees and paid together,Personal pension is only paid by individuals.
Generally speaking, the personal pension system belongs to the supplementary pension insurance system supported by government policies, voluntary participation by individuals and market-oriented operation.
Jong Li, Vice Minister of the Ministry of Human Resources and Social Security, said that the personal pension system has three characteristics: First, government policy support. Encourage the insured to actively participate by giving preferential tax support. The second is personal voluntariness. That is, if you have the basics first and then the supplements, you must participate in the basic old-age insurance first. With this condition, everyone can voluntarily participate in the personal pension. The third is market-oriented operation. Personal pension contributions can be used to purchase financial products such as bank wealth management, savings deposits, commercial pension insurance and Public Offering of Fund.In other words, what to buy and when to buy are all decided by the participants.
Why is the upper limit of payment 12,000 yuan?
According to the regulations, the maximum annual personal pension for participants is 12,000 yuan.
Nie Mingxi, director of the Department of Endowment Insurance of the Ministry of Human Resources and Social Security, pointed out that this is mainly based on three considerations: First, it is considered from maintaining a moderate supplementary pension level. The function of personal pension is to supplement the function of providing for the aged. The level of supplement, on the one hand, should be combined with the level of the first and second pillars, and maintain a reasonable total pension level of the three pillars. On the other hand, it is necessary to avoid a large gap in pension levels and maintain a reasonable income distribution relationship.
The second is to learn from the pilot practice of deferred commercial endowment insurance in the previous period. Combined with the pilot situation, the personal pension has adopted a fixed amount method, which is relatively simple, and the annual total amount has also maintained convergence.
The third is to reflect incremental reform. The initial stage is 12,000 yuan. With the economic and social development and the increase of per capita disposable income in urban and rural areas, the upper limit of payment will be gradually raised in time to better meet the people’s needs for supplementary pension.
How to participate in personal pension?
Nie Mingjuan pointed out: First, the conditions for participation are relatively simple. At present, the number of people participating in the basic old-age insurance is 1.03 billion, among which, no matter what kind of employment form the employees are, that is, whether they are employed by the unit or flexible employees, they are not restricted by the employment area and household registration, so long as individuals voluntarily participate in this system fairly, and their rights and interests will not be affected when they move across provinces and regions.
Second, the way of participation is more flexible. In terms of participation, participants decide whether to participate in the whole process or part of the year, and in terms of payment amount and payment method,In the initial stage, as long as it does not exceed the annual payment limit of 12,000 yuan, participants can decide how much to pay, which can be paid in one lump sum or in installments this year.
Third, it is easier to open an account. According to the system design, it is necessary to open two accounts to participate in personal pension: one is to establish a personal pension account on the information platform for information recording, inquiry and service; The other is a personal pension fund account opened or designated in a bank for payment, purchase of products, collection of income, etc. These two accounts are unique to each other, and participants can open them in the national social insurance public service platform, the national people’s social government service platform, electronic social security cards, "Pocket 12333", commercial banks and other channels. Among them, through the channels of commercial banks, both accounts can be opened at one time.Participants can determine the account opening method and bank according to their own preferences.
Fourth, investment is more convenient. Participants can choose bank financing, savings deposit, commercial endowment insurance, Public Offering of Fund, etc. independently according to different preferences, and can also combine short-term, medium-term and long-term.These operations can be completed in the fund account, without running multiple departments and institutions.
Fifth, the collection method is more flexible. When the participants meet the conditions for receiving, they can choose to receive it monthly, in installments or in one lump sum. The commercial bank will transfer the funds from the personal account to the personal social security card bank account of the participants according to the personal choice. Under special circumstances,For example, you can also get it if you completely lose your ability to work and go abroad to settle down.
What are the benefits of personal participation?
Nie Mingjuan pointed out: First, you can enjoy preferential tax policies.The most direct benefit of individuals participating in the personal pension system is that they can enjoy the preferential tax policies of the state.Including financial products such as old-age FOF and commercial old-age insurance, eligible investment products that can be used as personal pensions are purchased by participants at their own discretion.
Second, it can enrich diversified pension needs. The first pillar of basic old-age insurance is to ensure basic living, and the second pillar of enterprise annuity and occupational annuity is established by the unit and plays a supplementary role in providing for the elderly. Now the personal pension has been increased, which not only adds a supplementary pension channel for those who participate in the second pillar, but also for those who do not participate in the second pillar.It also adds a channel to supplement the old-age care, enriching the participants’ diversified needs for future old-age insurance.
Third, it can help individuals rationally plan pension funds. After participating in the personal pension, it can be seen from the system design that the account funds are closed, and they can only enter and leave during the payment stage. Personal contributions and investment income are accumulated in the account, and they can be collected when they reach the age of receiving basic pensions. That is to say, helping participants to firmly export personal pensions is helpful for individuals to rationally plan pension funds and rationally choose investment products and investment periods.Avoid early withdrawal, thus effectively playing the role of supplementary pension.
Will you participate in the personal pension? (End)