At present, China has established a multi-level old-age insurance system that combines basic old-age insurance system, enterprise annuity system and individual voluntary savings, namely the so-called "three-pillar" old-age insurance system. However, due to China's large population, especially the large number of rural population and vulnerable groups, restricted by many factors such as low urbanization level and unbalanced economic and social development, the existing supplementary pension systems such as group pension insurance and enterprise annuity are still difficult to benefit the majority of social groups. Chen Wenhui believes that a reasonable tax system can promote the potential demand for old-age care to be transformed into realistic purchasing power, which is the most effective lever to incite the development of old-age care. In order to cultivate consumers' habit of purchasing pensions voluntarily, the state should give certain tax incentives.
After three years of implementation, the enterprise annuity has not "blown out"
165438+ 10/0/9, the Ministry of Labor and Social Security announced the second batch of enterprise annuity fund management institutions. Seven institutions, including China Construction Bank, Industrial and Commercial Bank of China and China Merchants Bank, obtained the trustee qualification of enterprise annuity for the first time; four institutions, including Minsheng Bank and China CITIC Bank, obtained the trustee qualification of enterprise annuity; and six institutions, including cathay pacific fund Company and Guangfa Fund Company, obtained the investment manager qualification. So far, the number of enterprise annuity fund management institutions has reached 6 1 home.
1 16 10 16, the CIRC issued the Measures for the Administration of Endowment Insurance Business of Insurance Companies. The Measures stipulate that insurance companies should actively innovate endowment insurance products and develop endowment insurance products suitable for different groups and individuals according to market conditions. Encourage insurance companies to develop personal pension annuity insurance products with lifelong annuity collection methods.
People in the insurance industry believe that since the implementation of "Trial Measures for Enterprise Annuity" and "Trial Measures for Enterprise Annuity Fund Management" on May 1 2004, although the enterprise annuity system and regulations have been continuously improved and the fund management institutions have been increasing, the enterprise annuity has not developed as expected, but has developed slowly. When "Trial Measures for Enterprise Annuity" and "Trial Measures for Enterprise Annuity Fund Management" were launched in 2004, businesses, banks and securities industries thought that the door of enterprise annuity had been opened to financial and insurance institutions, so they were optimistic about the development momentum and scale of enterprise annuity and thought that the spring of enterprise annuity had arrived. It is estimated by relevant departments and some people that in the next 10 year, the annual growth of enterprise annuity in China will be about10 billion yuan, and it will reach10 billion yuan by 20 10 year. What is the reality? By the end of 2006, more than 24,000 enterprises in China had established enterprise annuities, with an annuity scale of 965.438 billion yuan and 9.64 million employees benefiting. Compared with 40 billion yuan at the beginning of 2004, it only increased by 50 billion yuan in three years, far below the industry's expectations.
As a supplementary endowment insurance, enterprise annuity has always been highly anticipated.
Dr. Wang Zeying from the Social Insurance Research Institute of the Ministry of Labor and Social Security introduced that enterprise annuity is a supplementary old-age insurance system voluntarily established by enterprises and their employees on the basis of participating in the basic old-age insurance according to law. It is established by some enterprises according to their own economic ability on the basis of participating in basic endowment insurance, aiming at attracting and retaining talents and improving the income level of employees after retirement. The basic old-age insurance is the insurance that enterprises must handle for employees according to law, while the enterprise annuity is the insurance that only qualified enterprises can establish.
In 2000, the State Council promulgated the "Pilot Program on Improving the Urban Social Security System" (Guo Fa [2000] No.42), stipulating that qualified enterprises can establish enterprise annuities for their employees and implement market-oriented operation management. Enterprise annuities are managed by individual accounts, and the expenses are paid by enterprises and individual employees. The part paid by the enterprise within 4% of the total wages can be charged from the cost.
According to the provisions of the "Trial Measures for Enterprise Annuity" and other documents, enterprises that meet the following three conditions can establish enterprise annuities: participating in basic old-age insurance according to law and fulfilling payment obligations, having corresponding economic affordability, and having established a collective negotiation mechanism. The so-called collective consultation mechanism refers to the establishment of enterprise annuity, which should be determined by the enterprise and the trade union or employee representatives through collective consultation, and the enterprise annuity plan should be formulated. The draft annuity plan of state-owned and state-holding enterprises shall be submitted to the workers' congress or the workers' congress for discussion and adoption before implementation.
After the establishment of enterprise annuity, the enterprise annuity fund is formed. Enterprise annuity fund consists of three parts: enterprise payment, individual employee payment and investment and operation income of enterprise annuity fund. The annual contributions of enterprises shall not exceed112 of the total wages of employees in the previous year, and the total contributions of enterprises and employees shall generally not exceed16 of the total wages of employees in the previous year. The enterprise annuity fund can be invested and operated in accordance with state regulations, and the operating income is incorporated into the enterprise annuity fund. Enterprise annuity funds are fully accumulated and personal accounts are managed. The amount of enterprise contributions calculated according to the proportion stipulated in the enterprise annuity plan shall be included in the employee enterprise annuity personal account; Individual contributions of employees are included in individual accounts; The investment and operation income of enterprise annuity fund is included in the personal account of enterprise annuity according to the net rate of return. Through the enterprise annuity plan, employees can deposit a sum of money in their personal accounts for enterprise annuities during their work, and when they reach the retirement age stipulated by the state, they can receive enterprise annuities from their personal accounts for one time or at regular intervals.
Therefore, through the establishment of enterprise annuity system, employees can not only receive basic old-age insurance after retirement, but also receive enterprise annuity, so that employees can enjoy better welfare benefits and maintain a higher standard of living after retirement.
Dr. Wang Zeying believes that the establishment of enterprise annuity is beneficial to both enterprises and the country. On the enterprise side, the establishment of enterprise annuity can improve employee incentive mechanism, improve employee welfare, attract and retain talents, and constitute an important part of enterprise development strategy. By establishing an annuity plan, enterprises can establish enterprise annuities with different amounts for employees according to their working years, contribution and position. Generally, senior management talents and technical talents have large enterprise annuities, and they can enjoy high welfare benefits after retirement, which can not only retain senior talents, but also attract more senior talents to join.
For the country, the establishment of enterprise annuity can make up for the limitation of insufficient payment of basic old-age insurance. By establishing the enterprise annuity system, the payment pressure of the national basic old-age insurance can be alleviated.
The lack of preferential tax policies restricts the development of enterprise annuity. People in the insurance industry believe that tax incentives are an important guarantee for the sustainable development of China's old-age security system and a major bottleneck for current development. An important reason for the slow development of enterprise annuity is the lack of preferential tax policies.
Dr. Wang Zeying believes that tax preference has a great influence on the establishment of enterprise annuity system. Without tax incentives, a considerable number of enterprises lack the motivation to establish enterprise annuities.
At present, enterprise annuities can enjoy tax incentives, that is, the part of the total wages paid by enterprises within 4% is allowed to be deducted before tax. Due to the increase of items and amounts deducted before tax, enterprises can get preferential tax treatment by establishing annuities for their employees, thus reducing the burden on enterprises. This kind of preferential treatment is an important driving force for a large number of enterprises with good economic benefits to establish enterprise annuity plans.
The insiders believe that the enterprise annuity is favored by enterprises precisely because it can become a tool for enterprises to carry out tax planning and even tax avoidance. Enterprises that have the strength to establish enterprise annuities are often enterprises with good benefits and high wages. These enterprises pay a large amount of corporate income tax and personal income tax every year. By establishing enterprise annuity, the tax burden of enterprise income tax can be reduced, which is better than giving more bonuses and wages to employees.
And this offer is likely to lose its meaning from next year. From June 65438+1 October1day, 2008, China will implement the new enterprise income tax law. The new Enterprise Income Tax Law stipulates that reasonable expenses actually incurred by enterprises, including costs, expenses, taxes, losses and other expenses, are allowed to be deducted when calculating taxable income. According to authoritative experts, from next year, China will cancel the standard of taxable wages, and the reasonable wages and salaries incurred by enterprises will be deducted in full. In other words, at present, enterprises can deduct enterprise annuity before enterprise income tax by establishing enterprise annuity plan, and they can also deduct enterprise annuity before enterprise income tax from next year, and there is no standard limit.
Therefore, even if the relevant departments stipulate that the part paid by enterprises in the enterprise annuity can still be deducted within 4% of the total wages, it is not attractive to enterprises for tax purposes.
For enterprise employees, the most desirable benefit of enterprise annuity is exemption from personal income tax, but this wish has not been realized. There was a time when it was controversial whether to pay personal income tax on the individual contribution part of enterprise annuity, and a few areas enjoyed tax-free treatment. However, in 2006, the Ministry of Finance and State Taxation Administration of The People's Republic of China issued a document stipulating that the basic old-age insurance premium, basic medical insurance premium and unemployment insurance premium actually paid by individuals can be deducted from the personal taxable income according to the payment ratio or method stipulated by the state or the people's government of provinces (autonomous regions and municipalities directly under the Central Government). For enterprises, institutions and individuals to pay the basic old-age insurance premiums, basic medical insurance premiums and unemployment insurance premiums that exceed the prescribed proportion and standards, the excess should be incorporated into the personal current wages and salary income, and personal income tax should be levied. Therefore, the supplementary endowment insurance paid by both enterprises and individuals, that is, the enterprise annuity, should be incorporated into the individual's current salary and salary income, and personal income tax should be levied. Since then, enterprises in some areas have been punished by tax authorities for failing to withhold and remit personal income tax of employees after establishing enterprise annuities.
Personal contributions can not be deducted before tax, and employees lose their enthusiasm for payment, so personal contributions become empty talk.
According to industry insiders, since 2005, the CIRC and other departments have been striving for tax exemption for individual contributions of enterprise annuities from relevant departments. At present, it seems that it is no longer feasible to strive for the tax exemption policy for individual contributions to enterprise annuities. As a result, the CIRC and other departments settle for the second best, seeking the preferential payment of enterprise annuity.
The so-called deferred tax payment means that for the individual contribution, it is not a pre-tax deduction method, but it is stipulated that the individual income tax will not be paid when the payment is made, and the tax will be paid when the enterprise annuity is actually received. Relevant experts believe that it is more reasonable to postpone tax payment, which can not only ensure that the overall national tax revenue will not decrease, but also give individuals preferential tax payment.
Relevant experts believe that although the delay in paying taxes has little impact on the current personal income tax in China, it is equally difficult to implement it from the perspective of China's current personal income tax system.
First of all, the enterprise annuity is collected from my personal account of enterprise annuity after retirement, and the way of deferred tax payment means that personal income tax will be levied on the income obtained after retirement. After retirement, the income of retired workers is usually greatly reduced, and they are considered as vulnerable groups. It goes without saying that it is difficult to tax them after retirement.
Secondly, China's individual income tax system is facing the transformation from classified income tax system to comprehensive income tax system. The transformation from classified income tax system to comprehensive income tax system will inevitably lead to great changes in the current personal income tax rate, tax items, tax base, tax preferences and collection methods, and there will be too many variables in the future personal income tax system. At this time, if the enterprise annuity individual tax payment is postponed, it will definitely face difficulties in adjustment in the future.
Therefore, it remains to be seen what kind of preferential tax policies will be implemented for enterprise annuities.