Where is the personal pension business handled?

Yesterday (25th), the whole society paid close attention to it, and the personal pension system related to your life after retirement began to be implemented. Ministry of Human Resources and Social Security, the Ministry of Finance, and State Taxation Administration of The People's Republic of China issued a notice to implement individual pension system in Beijing, Tianjin, Shijiazhuang, xiong'an new area, Shanxi Jincheng and other 36 pioneering cities and regions. Qualified personnel in leading cities can voluntarily participate in personal pension business.

At present, the first batch of 23 commercial banks that can provide personal pension services announced by China Banking Regulatory Commission are docking with Ministry of Human Resources and Social Security personal pension information management service platform. The list of commercial banks that have completed the docking test is published on the national social insurance public service platform, and people can make inquiries through the platform and electronic social security cards. Ministry of Human Resources and Social Security will update the relevant list in real time according to the system access of commercial banks.

Accelerate the construction of a multi-level and multi-pillar endowment insurance system.

I believe that everyone wants to live a more comfortable and high-quality life in his later years, which is inseparable from certain economic security. First of all, what is an individual pension? If we want to understand this problem, we must start with China's old-age insurance system.

China's multi-level endowment insurance system mainly includes "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 first pillar, based on basic security, adopts the system mode of combining social pooling with individual accounts, which embodies social economy and has a relatively complete system. At present, the number of people covered has reached 65.438+0.5 billion, and the accumulated fund is 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. As of the second quarter of 2022, more than 75 million employees have participated in enterprise (occupational) annuities, and accumulated funds of nearly 4.7 trillion yuan, initially showing supplementary pension functions.

The third pillar is personal savings pension insurance and commercial pension insurance, including personal pension and other personal commercial pension financial services. There was no unified national institutional arrangement before, which was a shortcoming of the multi-level endowment insurance system.

Jia Jiang, Deputy Director of the Department of Endowment Insurance of Ministry of Human Resources and Social Security: Personal pension is a part of the third pillar, with institutional arrangements, and it is a supplementary endowment insurance system supported by government policies, voluntary participation of individuals and market operation. Establishing personal pension system is an important measure to improve China's multi-level and multi-pillar pension insurance system, which is conducive to promoting the sustainable development of China's pension insurance system.

Sun Jie, Vice President of university of international business and economics Institute of Insurance: (Individual Pension) is led by the government, and then operated in a market-oriented way. It includes not only commercial endowment insurance, but also Public Offering of Fund, wealth management products and trust funds.

To sum up, individual pension refers to the supplementary pension insurance system supported by government policies, voluntary participation by individuals and market-oriented operation. Personal account mode, individual payment, complete accumulation, market-oriented operation, connected with basic old-age insurance, enterprises and occupational annuities.

You can enjoy these preferential policies when you buy a personal pension.

From this perspective, personal pension is actually supplementary pension insurance. Since there is already basic old-age insurance and some companies have enterprise annuities, why should we buy personal pensions? What preferential policies can I enjoy in participating in personal pension business?

Mo Rong, Dean of China Labor and Social Security Research Institute: This will help us to make overall plans for future pensions. Personal pension is based on personal account, and we can buy corresponding financial products that meet the requirements according to our own needs. These financial products have passed the government's audit and have a white list.

In addition, the policy support of individual pension is mainly reflected in the preferential tax policies. The announcement issued by the Ministry of Finance and the State Taxation Administration of The People's Republic of China on the individual income tax policy for individual pensions shows that in the payment link, the individual's contribution to the individual pension fund account is deducted from the comprehensive income or operating income according to the limit standard of 12000 yuan/year; 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; In the process of collection, 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 the tax rate of 3%, and the tax paid is included in the "income from wages and salaries" project.

Sun Jie, Vice President of university of international business and economics Institute of Insurance: After market-oriented operation, it is closed operation. In fact, it is also a way for individuals to save more money for the future, and then the government provides tax incentives. For individuals, it is also beneficial, one is the effect of tax saving, and the other is the additional guarantee for the future.

Who can participate in the personal pension business?

It can make the life of the elderly more secure, and the personal pension system naturally attracts much attention. Previously, the implementation measures jointly issued by Ministry of Human Resources and Social Security and the Ministry of Finance were clear, and the personal pension system covered a wide range. So who can join the personal pension system, and why should such a provision be made?

Sun Jie, vice president of university of international business and economics Institute of Insurance: The people who participate in the personal pension system now should be the basic groups covered by the basic old-age insurance. Without the participation record of the first pillar basic old-age insurance, you can't enter the system and enjoy tax extension benefits.

From the perspective of system function, individual pension can only reflect the function of supplementary old-age insurance on the premise of participating in basic old-age insurance and realizing basic insurance. From the perspective of coverage, China's basic old-age insurance system has achieved full coverage. At present, the number of participants has reached 65.438+0.05 billion, basically covering the working-age population. On this basis, the participation of willing workers can realize the long-term payment of personal pension and increase the accumulation of funds in personal accounts.

How to operate the business from opening an account to receiving a personal pension?

Personal pension business was first implemented in 36 pilot cities and regions. How to operate the whole process from account opening to collection?

Step 1: Select the service of "Personal Pension Account Opening" through the national unified online service portal or commercial banks to establish personal pension accounts.

Step 2: Open a personal pension fund account through commercial banks, mobile banking or counters. Through the channels of commercial banks, the insured can open individual pension accounts and individual pension fund accounts at one time.

Mo Rong, Dean of China Labor and Social Security Research Institute: To participate in personal pension, you need to open two accounts, one is personal pension account and the other is personal fund account. Personal pension accounts are mainly used for information recording, inquiry and service, followed by fund accounts, which are used when we buy products, collect income and receive pensions.

Step 3: Pay the personal pension fund account in one lump sum or in installments within a natural year through cash, mobile banking or personal online banking. It should be noted that individual pension contributions are subject to quota management. At present, the annual payment ceiling is 6.5438+0.2 million yuan, and it is not allowed to pay beyond the limit.

Jia Jiang, Deputy Director of the Department of Endowment Insurance of Ministry of Human Resources and Social Security: This payment amount is mainly determined from the perspective of maintaining an appropriate level of supplementary endowment insurance and reflecting incremental reform. In the future, the state will raise the upper limit of payment level according to the level of economic and social development and the development of multi-level endowment insurance system. For the insured, according to their own economic affordability, they can flexibly choose whether to participate in individual pension contributions every year or in installments, or they can choose the amount of contributions needed during the year, which can be paid in one lump sum or in installments.

Step 4: In the payment stage, you can choose to use the "Personal Income Tax" App to scan the code and enjoy the preferential tax policy when withholding and paying, that is, when you get the salary and salary income, you can withhold and pay the prepaid labor remuneration income or settle it according to the cumulative withholding method.

The fifth step is to purchase qualified personal pension products such as savings deposits, wealth management products, commercial pension insurance and Public Offering of Fund through the sales channels of personal pension products.

Step 6: When you receive your personal pension, you can choose to receive it monthly, by stages or at one time through the channels of commercial banks. Personal income tax is withheld and remitted by commercial banks and transferred to your social security card.

Sun Jie, vice president of university of international business and economics Institute of Insurance: The first condition is that you have to reach the legal retirement age before you can get it after retirement. The second condition is that you have lost your ability to work. Another one, for example, if you have emigrated and settled abroad, you can get it in advance. For example, he has not reached retirement age, died early, or has a balance in his personal account after reaching retirement age, then this part of the pension children can inherit.

For the whole process information of personal pension, you can inquire about personal rights and interests related to personal pension, such as account, payment, transaction and collection, as well as personal pension products and issuing institutions through the unified online service portal nationwide.

How to use the money in the personal pension fund account?

After the money is deposited into the personal pension account, how to use it and how to preserve and increase its value?

In the "Measures for the Implementation of Individual Pensions", it is clear that individual pensions are subject to individual account system, and the payment is entirely borne by the insured. Choose to buy qualified savings deposits, wealth management products, commercial endowment insurance, Public Offering of Fund and other financial products, implement complete accumulation, and enjoy preferential tax policies in accordance with relevant state regulations.

Jia Jiang, Deputy Minister of Pension Insurance Department of Ministry of Human Resources and Social Security: Personal pension products are diversified, mainly to meet the investment preferences and needs of different investors. It is conducive to meeting the investment needs of different groups and promoting market competition, prompting financial institutions to develop more and better financial products and participate in the personal pension system. Compared with general financial products, personal pension products should be safe, mature, stable and standardized, and pay attention to long-term value preservation.

The "Implementation Measures" stipulate that participants can independently choose the types and amounts of personal pension products purchased from individual pension fund accounts. Personal pension product sales institutions shall, on the principle of "sales appropriateness", do a good job of risk warning, and shall not take the initiative to introduce personal pension products beyond their risk tolerance to participants.