| At the 20 th National Congress of the Communist Party of China,a report was presented that sought to enhance the multi-level social security system,which would encompass the entirety of the population,harmonize urban and rural areas,be equitable and unified,secure and uniform,and sustainable.This included the enhancement,which would reflect social equity and justice,as well as satisfy the varied and multi-level distinct requirements of the people.The current endowment insurance system in China is founded on fundamental endowment insurance,with the addition of enterprise and occupational annuities,etc.,supplemented by individual commercial endowment insurance,and forming a pension insurance system jointly invested social individuals.However,as far as the status quo is concerned,many aspects still need to be improved.A large portion of collection is attributed to the first pillar,and some provinces have been overly dependent on central financial allocations and payments,resulting in a disparity between pension insurance income and expenditure.The second pillar of enterprise annuity is limited;suitable annuity policies.The third pillar is still in its infancy.To break the pension quandary,it is essential to attain a balanced growth of the three pillars.Commercial endowment insurance,a major part of the social old-age security system,has immense potential for growth and can reduce the payment strain of fundamental endowment insurance and provide retirees with a reasonable level of living security.The combination of commercial endowment insurance and preferential tax policies,specifically tax-deferred commercial endowment insurance,is the key to fostering the third pillar of commercial endowment insurance.To do this,it is essential to actively advocate for preferential tax policies,as well as to further develop stimulating the willingness of those involved.insured people to participate in insurance,and can we better cope with the situation of aging population.However,according to the results of the previous pilot,the participation rate is obviously insufficient,and its effect has not met expectations,so what is the reason for such a dismal response in the tax extension pension insurance market? How should we adjust our policies?This paper first studies the literature related to tax-deferred pension insurance,and the predecessors have studied and analyzed the necessity and feasibility of developing the third pillar and carrying out tax incentives in China,as well as some possible problems.Secondly,according to the principles of typicality and adaptability,the pilot product of Taikang Company’s tax deferred endowment insurance was selected as a research case,and its advantages and disadvantages were analyzed through the combination of quantitative and qualitative research,which paved the way for the later analysis of the problem of China’s individual tax deferred endowment insurance.Then,from a macro perspective,the possibility and necessity of the development of individual tax deferred endowment insurance in China are explained,proving that China has sufficient conditions to implement this policy.Moreover,through the combing of the current situation of the policy system,it is proposed that China’s current tax-extended pension insurance faces,such as the lack of dynamic adjustment of taxes and insufficient unfairness of preferential treatment.In order to solve these problems,this paper compares and analyzes the foreign tax preferential models,draws on their successful experience,and summarizes the development suggestions suitable for China’s national conditions.Finally,based on the existing problems in development and foreign enlightenment,five optimization strategies for improving China’s tax-deferred insurance are proposed,which provide reference for the further development of China’s tax-deferred endowment insurance and the third pillar. |
