Select some cities to try out for one year-promote the personal pension system to land steadily.

On April 25th, the State Council held a routine briefing on the State Council policy to introduce the Opinions on Promoting the Development of Individual Pensions (hereinafter referred to as the Opinions). The person in charge of the relevant departments said at the meeting that the personal pension system is an important institutional arrangement in the top-level design of China’s social security system and an important part of the multi-level and multi-pillar old-age insurance system. Relevant departments will work closely together to promote this system.

You can enjoy preferential tax policies

Personal pension system is a brand-new system. Jong Li, Vice Minister of the Ministry of Human Resources and Social Security, said that China’s multi-level endowment insurance system mainly includes three aspects, which are commonly called "three pillars". The first pillar is the basic old-age insurance, which is the main part. The second pillar is enterprise annuity and occupational annuity, plus the third pillar, personal pension and other personal commercial pension financial services, which is an effective supplement to the first pillar.

According to the data of the Ministry of Human Resources and Social Security, as of the end of March, the number of people participating in the basic old-age insurance reached 1.03 billion, and the annual income and expenditure of the basic old-age insurance fund reached 12.6 trillion yuan, with a cumulative balance of more than 6 trillion yuan. There are 72 million employees participating in enterprise annuities and occupational annuities, and the accumulated fund is 4.5 trillion yuan.

Jong Li said that compared with the compulsory implementation of the basic old-age insurance by the state and the establishment and joint payment of enterprise annuities and occupational annuities by employers and their employees, the personal pension system has three characteristics.

Government policy support. The most direct benefit of individuals participating in the personal pension system is that they can enjoy the preferential tax policies of the state. Encourage the insured to actively participate by giving preferential tax support. Participants establish their own unique personal pension account through the personal pension information management service platform and record all relevant information as the basis for participating in the personal pension system and enjoying preferential tax policies.

Individual voluntary. Workers who have the basics first and then supplement them and participate in the basic old-age insurance for urban workers or the basic old-age insurance for urban and rural residents in China can participate in the individual pension system.

Market operation. Give full play to the role of the market and create an open, fair and just market environment. Personal pension contributions can be used to purchase financial products such as bank wealth management that meet the requirements.

The upper limit of annual payment in the initial stage is 12,000 yuan.

"The biggest feature of the personal pension system is that individuals voluntarily participate. In order to make it easy for participants to get familiar with the policy and operate easily, special attention is paid to the convenience and effectiveness of participation in the process of policy formulation. " Nie Mingxi, director of the Department of Endowment Insurance of the Ministry of Human Resources and Social Security, said.

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 them, employees, regardless of their employment form, are not restricted by the employment area and household registration. As long as individuals voluntarily participate in this system, their personal rights and interests will not be affected when they move across provinces and regions.

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. In terms of payment amount and payment method, as long as the initial stage does not exceed the annual payment limit of 12 thousand yuan, participants can decide how much to pay, which can be paid in one lump sum or in installments this year. According to the level of economic and social development and the development of multi-level and multi-pillar endowment insurance system, the payment ceiling will be adjusted in a timely manner.

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.

Investment is more convenient. Participants can choose bank wealth management, savings deposit, commercial endowment insurance, Public Offering of Fund, etc. according to different preferences, and can also combine them in the short, medium and long term. These operations can be completed in the capital account without running multiple departments and institutions.

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.

Ensure that the national policy of benefiting the people is implemented.

Around the personal pension system, many departments indicated that they are promoting related work. Jong Li said: "In the next step, we will implement it step by step according to the actual situation, and select some cities to try it out for one year first, and then gradually push it away."

Guo Yang, head of the Social Security Department of the Ministry of Finance, said that in terms of personal pension, the principle of government guidance, market operation and orderly development is mainly adhered to. The state formulates preferential tax policies, encourages individual participation, and supports the insured to enrich the fund reserve of personal pension by market means. The Ministry of Finance will work with relevant departments to study and formulate relevant supporting policies to promote the implementation of the personal pension system as soon as possible.

Lin Xiaozheng, head of the Securities Fund Institution Supervision Department of the CSRC, said that the CSRC will step up the introduction of relevant rules and regulations on personal pension investment in Public Offering of Fund, improve the industry infrastructure platform, continuously strengthen the supervision of institutions and employees, make efforts to promote the improvement of managers’ investment management ability and standardized operation level, strengthen investor protection, effectively guarantee the safety and standardization of pension investment operation, and promote the high-quality development of personal pension business.

"China Banking and Insurance Regulatory Commission will steadily and orderly promote bank insurance institutions to standardize personal pension-related financial services and ensure the stable operation of personal pension fund accounts." Wang Honghe, head of the life insurance supervision department of China Banking and Insurance Regulatory Commission, said that at present, China Banking and Insurance Regulatory Commission is studying and formulating relevant supporting policies, and clarifying the rules of capital accounts and the management requirements of related products. At the same time, we will work closely with the Ministry of Human Resources and Social Security to promote the docking of financial information platform and personal pension information management service platform, and realize the interconnection of financial products and account information systems and the sharing of related business data among departments.

Wang Honghe said that the personal pension account is locked into retirement, so that the funds invested by individuals can really be used for old-age security. "We will encourage financial institutions to introduce more products that are conducive to the steady appreciation of pensions and explore ways to provide reasonable returns for participants through long-term investment and value investment. At the same time, the regulatory authorities will strengthen the supervision of financial services related to personal pensions, severely crack down on violations, earnestly safeguard the legitimate rights and interests of consumers, and ensure that the national policy of benefiting the people is implemented. " (Reporter Qiu Haifeng)