Pension tax deduction standard 2023

The pre-tax deduction standards for pensions in 2023 are as follows:

Taking the taxable income of the whole year as the standard (comprehensive income of residents' personal income, income after deducting expenses of 60,000 yuan in each tax year and the balance after special additional deduction determined according to law):

1, 1: 3% if it does not exceed 36,000 yuan;

2. Grade II: the part exceeding 36,000 yuan144,000 yuan;

3. Grade III: 20% of the part exceeding144,000 yuan to 300,000 yuan;

4. Level 4: 25% for the part exceeding 300,000 yuan to 420,000 yuan;

5. Grade V: 30% of the part exceeding 420,000 yuan to 660,000 yuan;

6. Level 6: 35% of the part exceeding 660,000 yuan to 960,000 yuan;

Level 7, 7: 45% of the part exceeding 960,000 yuan.

Matters needing attention in the return rules of individual endowment insurance:

1, pension collection

To receive a pension, you need to provide relevant certificates and materials, such as ID cards and bank cards. The time for receiving the pension is subject to the time stipulated by the local social security bureau.

2. Calculation of pension

The calculation basis of pension is the payment amount and payment period of the insured during the payment period. Therefore, the insured can improve the pension payment standard by paying more premiums.

3. Adjustment of pension

The pension payment standard will be adjusted with the economic and social development. Therefore, the insured needs to pay attention to the change of policy in order to know the adjustment of pension in time.

4. The value of pension.

The preservation of pension needs the investment management of the insured. Insured people can choose to invest their pensions in low-risk and stable financial products to ensure the preservation of their pensions.

To sum up, through the adjustment and change of pension tax policy in 2023, we will see efforts to better support and protect the elderly's pension life.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 10

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium. Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium. The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.