Research On Tax Policy Of The Personal Pension Plan In China

With the development of the national economy,the living standards of our people have gradually improved,and at the same time,with the continuous deepening of aging,the problem of old-age care has become increasingly serious.The development of the third pillar personal pension plan is an important means to cope with the crisis of aging,and the relevant tax policies that are the core of the "third pillar" are generally considered by scholars to be the key to its successful implementation.On May 1,2018,China officially implemented a personal tax deferred commercial endowment insurance pilot program.The tax policy adopted the EET tax incentive model,which aims to use taxation policies to encourage people to participate in the insurance of personal commercial endowment insurance and improve China's Level pension system.This article is based on the above background.In terms of theoretical analysis,this article first introduces China 's third pillar personal pension plan and its current status,the introduction and comparison of the “third pillar” tax policy types,and China 's personal tax deferred commercial pension.Specific forms of tax incentives for insurance pilots.Then combining with the internationally representative third-pillar personal pension plan tax policy,by focusing on the analysis of mature tax incentive models such as the US IRAs plan and the Canadian RRSP plan,which have strong reference for China,we can draw the third Enlightenment from the construction and improvement of tax policies for pillar personal pension plans.In terms of empirical research,this paper is based on the specific tax incentive policy schemes of the current pilot.By constructing a personal tax deferred commercial endowment insurancereplacement rate model and a tax incentive measurement model under the pilot EET model,this paper estimates the participation of the current pilot scheme when it is implemented nationwide The insurer's pension replacement rate,personal tax preferences,and government tax expenditures are analyzed to analyze the impact of the pilot tax policy on the benefits of the insured and the government's fiscal revenue.Based on a combination of theory and empirical analysis,My article has reached several conclusions after research: First,the implementation of the taxation policy of the third pillar of the personal pension plan will bring benefits to the insured,and this can inspire the insured to participate in personal pension,Purchase a tax-deferred commercial endowment insurance to increase its personal pension replacement rate;then,tax policies have different incentives for different income groups,and may cause social injustice and other problems.Finally,after the implementation of relevant tax policies,it will cause some financial losses to the government,but its proportion in total fiscal revenue is small,and it will not cause a significant financial burden.Through analysis,it is found that the current taxation policy in China has problems such as low personal pension security,lack of preferential taxation,regressive effects,and narrowing the population that can be encouraged by taxation policies.In order to implement the pilot program nationwide and further promote the development of China's third pillar personal pension plan,the formulation of its tax policy needs to be further optimized.