Can you pay your own pension insurance refund personal income tax?

Paying for your own pension insurance can reduce your tax burden by enjoying a special additional deduction when you file your tax return, but refunding your personal income tax is a special case and is subject to the relevant regulations.

Paying for one's own pension insurance can be a special additional deduction for personal income tax, that is, the basic pension insurance premiums can be used as a special additional deduction in the tax declaration every year, but the following conditions must be met: 1. the citizen has already established a pension insurance relationship with the social insurance agency in accordance with the regulations; 2. the citizen has already paid the pension insurance premiums in accordance with the regulations when he/she receives the tax income. It should be noted that in terms of refunding personal income tax, specific operations need to be carried out according to local regulations. Generally speaking, taxpayers can only apply for a full refund when filing their tax returns if 1. citizens have participated in social security for 15 years, or retirees who have reached the age of 60 and have already obtained a pension; and 2. citizens have reached the legal retirement age before December 31, 2018, and have already obtained a basic pension. Therefore, whether you can refund your personal income tax by paying your own pension insurance needs to be judged on a case-by-case basis and comply with the relevant regulations.

Will employees be able to enjoy the tax refund policy after the employer pays the pension insurance for them? The pension insurance premiums paid by the employer for the employees can be used as a special additional deduction for the employees, i.e., the employees can enjoy the deduction of the pension insurance premiums when they file their personal income tax returns. However, whether the specific tax refund is possible needs to be judged according to the local regulations and comply with the relevant regulations.

Paying for one's own pension insurance can enjoy the special additional deduction policy for personal income tax, but the refund of personal income tax needs to meet more special conditions and comply with the relevant regulations. When handling the tax refund, it should be specifically operated according to local regulations to ensure legal compliance.

Legal basis:

Article 14 of the Social Insurance Law of the People's Republic of China*** and the State of China Individual accounts shall not be withdrawn in advance, and the interest rate of the account shall not be lower than the interest rate of the bank's fixed-term deposits, and shall be exempted from interest tax. If an individual dies, the balance of the individual account can be inherited.