Research On Personal Income Of Tax Deferred Pension Insurance Under Pilot Policy

The data show that the number of elderly people in China accounts for more than 10.85% of the total population,and it has become an aging society,and the degree of aging of the society has been continuously deepening.At the same time,China’s pension system is characterized by extremely uneven development.Among them,the first pillar is the biggest one,and the second and third pillars are extremely lacking.The data show that the number of elderly people in China accounts for more than 10.85% of the total population,and it has become an aging society,and the degree of aging of the society has been continuously deepening.At the same time,China’s pension system is characterized by extremely uneven development.Among them,the first pillar is the biggest one,and the second and third pillars are extremely lacking.In recent years,the replacement rate of basic social pension insurance has been decreasing.On the one hand,the level of public pension security has decreased,and on the other hand,the government’s financial pressure has been increasing.Therefore,it is imperative to accelerate the construction of the second and third pillars of old-age security.In order to achieve this goal,on the one hand,we must strengthen the education of the people’s concept of old-age care,change the concept of “supporting the elderly and rely on the govenment”,and clarify that the status of the state in the pension system is fundamental,and individuals need to make reasonable plans for their future pension.Arrangement;on the other hand,it is more important to fully mobilize the enthusiasm of the people to participate in personal pension insurance.International experience shows that tax regulation is an effective means to promote the development of the second and third pillars,and personal tax-deferred commercial pension insurance is an important manifestation of its third pillar.tax-deferred pension insurance is an incentive to mobilize individuals to purchase commercial pension insurance by delaying taxation and tax reduction,and has fully exerted its practical role in the United States,Germany and other countries.The exploration of tax-deferred pension insurance in China has been going on for more than ten years.During this period,there have been many attempts but no end,until the 2018 tax-deferred pension insurance pilot policy was implemented.In theory,tax-deferred pension insurance is conducive to guiding people to participate in personal pension insurance,and improving the social pension security system is an important measure to solve the problem of old-age care.In practice,due to different personal characteristics,the relevant regulations in China’s pilot policies on how to effect different populations and how to optimize them in the future need further research.Starting from the basic theory of tax-deferred pension insurance,this paper firstly sorts out and analyzes the choice of pension insurance tax model and the typical foreign tax-deferred pension insurance case,expounds the specific content of China’s pilot policy and compares it with typical foreign cases,and analyzes China’s pilot policy and The differences in foreign cases and the need to draw lessons,while based on the pilot policy,theoretically analyze its impact on personal income.Secondly,using actuarial technology to establish a model,detailed calculation of personal income after typical individual and sub-industry individual insured tax-deferred pension insurance,and study various factors under the pilot policy from the insured’s age,wage income,future wage growth rate,etc.The impact of earnings.Then according to the pilot policy and the status quo of the society,how to determine the subsidy method and the subsidy quota in conjunction with the tax-deferred pension insurance low-income subsidy policy,and calculate the subsidy method and recommended subsidy amount suitable for the current stage.Finally,conclusions and suggestions are put forward through the summary of the above research contents.Based on the above research framework,the main content of this paper can be divided into five chapters:Chapter One Introduction.This part elaborates the background of the topic in this paper,and explains the significance of this paper based on this,and combs and explains the research content of tax extension pension insurance at home and abroad.At the same time,the research methods,research contents,innovations and deficiencies adopted in this paper are explained.The second chapter is the tax-deferred pension insurance theory.This part is the theoretical basis of the article as a whole.Firstly,it expounds the basic concept of tax-deferred pension insurance.Then a simple example is used to compare and analyze the various tax models of pension insurance,pointing out that the EET model is superior to the previous TTE(TEE)model and is a tax model that effectively attracts individuals to participate in pension insurance.Then introduce the tax-deferred pension insurance model adopted by the United States and Germany respectively.The advantage of the US model is that different tax incentives are implemented according to factors such as the income of the population and the degree of protection already existing.The advantage of the German model is the use of direct subsidies and tax incentives.Two preferential methods are free to choose.Next,it introduces the development history of China’s tax-deferred pension insurance and the current pilot policy,and compares the pilot policy with the above-mentioned two-country policies.It is concluded that the follow-up of China’s pilot policy also requires differentiated preferential treatment and direct subsidy.Finally,it explains the concept of personal income after the extension of pension insurance,and theoretically discusses the individual income of different characteristics under the pilot policy in China.The third chapter estimates the income of different individual from tax-deferred pension insurance.This part is one of the focuses of this paper.The main purpose of this chapter is to measure the benefits of different individuals through the model,so first make assumptions about the parameters that may be used in the model calculation.Then,based on the present value of the expected tax difference and the replacement rate of the first year,the actuarial model is established according to the actual tax-deferred pension insurance product clause,and the calculation method is given.Next,based on the Shanghai data,the average income of the employees in the city is the typical income of different ages and different wage growth rates,and the individual income of the industry with the average wage of the industry as income.It is concluded that some individuals with higher ages or lower wage growth rates in typical individuals may face tax incentives for tax-deferred pension insurance;women have low returns from the perspective of tax gaps and replacement rates.For men;individuals in the industry at the age of 30,when they reach the average wage level,most people can get preferential tax benefits,but the overall replacement rate is not high,such as the coverage of tax-deferred pension insurance after considering the difference in age and specific income.The scope will be greatly reduced.Finally,the four most important factors,such as wage income,insurance age,wage growth rate and product mix,are selected.The different scenarios are used to measure and analyze the direct relationship between these four factors and income.And measure the income in certain circumstances.The results show that the impact of various factors on personal income is not the same and the degree of sensitivity varies.Individuals should insure after fully considering their own characteristics,and the pilot policy has problems of insufficient coverage and low degree of protection.The fourth chapter is the calculation of low-income subsidies.This is also one of the focuses of this paper.It is based on the questions raised in the previous chapter and gives suggestions.First,low-income groups are defined,and those with incomes above the minimum income in Shanghai and below the tax threshold are defined as low-income people.Secondly,the subsidy method should be comprehensively determined from the three aspects of subsidy principle,subsidy mode and taxation method.The subsidy principle includes the principle of fairness and the principle of protection,which is the basis for determining the subsidy method.The subsidy model is a specific model for subsidy distribution,such as one-time fixed subsidy,annual subsidy based on wage ratio,and fixed-year sub-annual subsidy.The tax method is a concept combined with the tax-deferred pension insurance policy.This paper proposes two methods: subsidy + tax collection and subsidy + no tax.Then based on the above subsidy principle,the effects of several subsidy methods were measured separately.It is pointed out that the actual effect of the two subsidy models according to the salary ratio and the fixed subsidy is basically the same;the principle of fairness can achieve the purpose of subsidy with relatively small cost,and the subsidy + no tax method is better.But it is inconsistent with the tax-deferred pension insurance policy;the protection principle requires a large subsidy input,and the older the applicator is,the large subsidy input,the two tax methods have the same impact on personal income,but the subsidy amount is different.Finally,in combination with the status quo,the subsidy + tax collection method should be used for subsidies based on the principle of fairness,and theannual subsidy of 1.5% should be used when using the wage-based subsidy model.Chapter V conclusions and recommendations.This part summarizes the full text,and concludes that the tax-deferred pension insurance pilot policy has a limited scope of application,and the degree of protection needs to be improved but the policy significance is greater.Provide guidance on individual insurance tax-deferred pension insurance and recommend that the government follow up on optimizing tax incentives,strengthening supervision,and improving legislation.The innovation of this paper is mainly to combine the current pilot policy and the new tax bill to measure the personal income after the personal insurance tax-deferred pension insurance,and further analyze the impact of personal characteristics on the income under the current pilot policy.At the same time,in the calculation and analysis,it is concluded that the pilot policy is limited,especially after it excludes the low-income people,the idea of determining the subsidy method for low-income subsidies is proposed,and after the actual measurement and analysis,the subsidy method suitable for the current stage is given.