The Impact Of Replacement Rate Of Tax Deferral Policy For Commercial Pension Insurance

Over the past few decades,China's population base has been growing rapidly.In particular,in recent years,the age structure of the population has been changing very rapidly.Coupled with the development of people's living standards and medical and health conditions brought about by economic growth,the aging of the population has become an increasingly serious problem.After entering the 21 st century,the Chinese government has repeatedly proposed to implement a delayed retirement policy to resist the challenge of aging.In China,the development of the three-pillar pension security system consisting of social basic pension insurance,enterprise annuity,and commercial pension insurance is not perfect.The pension of enterprise annuity and commercial pension insurance is smaller than the largest social basic pension insurance,but the basic social pension.The insurance replacement rate has been declining year by year,and there has been insufficient participation in corporate annuities.It is a general trend to vigorously promote the development of the third pillar of commercial pension insurance with a tax deferral policy.Most of the countries in the pre-emptive countries mostly use EET,whose taxes are collected during the tax exemption and collection phases of the payment and investment phases.This article first introduced the current situation of delayed retirement policy,China's pension system in the current situation,and developed countries' experiences with these policies,and illustrated that the current statutory retirement age in China is low and commercial pension insurance is imperfect.Then compare the eight different taxation models,and calculate the EET model's reasonable conclusion by calculating the total taxation and yield.Build an actuarial model to calculate the replacement rate of commercial retirement insurance in China's current retirement age in EET mode and TTE mode.The replacement rate of pensions used in this paper is the ratio of the amount of money received each year after an individual's retirement to that of the last year of work.The actuarial model of substitution rate innovatively distinguishes taxation from payment,investment and collection,and considers different taxation stages in the model to compare the substitution rates under the two different taxation models of TTE and EET.The conclusion is that the taxation model of EET is from individual to individual.The tax incentives are also the best choice for the tax deferral policy.Then,based on the EET model,the retirement age was successively extended for 5 years,longitudinally comparing the effect of the delay period on the substitution rate,and the substitution rate difference between male and female individuals after the delay period was also compared horizontally.The longer the deferred retirement age is,the higher the substitution rate is,and the smaller the disparity in the replacement rate between men and women.Individuals can get better protection after their retirement.Finally,based on the substitution rates obtained under different circumstances,this paper believes that China should take the right opportunity to implement a gradual and delayed retirement policy,and at the same time use a tax deferral policy to promote the development of individual commercial pension insurance.