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China launches private pension scheme
Published on: 2022-04-22
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China has said it will launch an official private pension scheme that aims to push more of the country’s vast household savings into the financial market, as the government grapples with an ageing population.
 

Employees in China will be able to contribute up to Rmb12,000 a year to private schemes, which the government said would be adjusted in line with “economic development” and would benefit from preferential tax treatment.
 

The plan, which will be trialled in certain cities for a year before being more widely implemented, is a significant moment in the government’s longstanding efforts to develop its pension system, which relies heavily on state plans and those organised by employers.
 

”The measures are targeted at Chinese citizen middle-class employees who are already contributors to the basic pooled pension insurance scheme, who will be newly tax-incentivised to contribute annually into an individual pension account,” said Lauren Johnston, visiting senior lecturer, with the School of Economics and Public Policy at the University of Adelaide.
 

”Their funds in turn will help to seed a growing Chinese wealth management and finance industry.”
 

The development comes as the share of China’s population aged 65 and over has been forecast to increase more rapidly than in other OECD countries, more than doubling from 10.6 per cent in 2017 to 26.3 per cent in 2050. The share of the Chinese population aged 80 and above will rise even more quickly, according to OECD estimates, increasing more than four times from 1.8 per cent in 2017 to 8.1 per cent in 2050.
 

China’s approach will aim to move pension savings more directly into the country’s financial markets, as part of a wider opening up that has attracted some of the world’s biggest investors to expand their presence in the country.
 

最高12000元!个人养老金政策发布!

中国政府网刊发《国务院办公厅关于推动个人养老金发展的意见》,其中明确:
 

制度模式:个人养老金实行个人账户制度,缴费完全由参加人个人承担,实行完全积累。
 

缴费水平:参加人每年缴纳个人养老金的上限为12000元。人力资源社会保障部、财政部根据经济社会发展水平和多层次、多支柱养老保险体系发展情况等因素适时调整缴费上限。
 

个人养老金投资:个人养老金资金账户资金用于购买符合规定的银行理财、储蓄存款、商业养老保险、公募基金等运作安全、成熟稳定、标的规范、侧重长期保值的满足不同投资者偏好的金融产品,参加人可自主选择。
 

个人养老金领取:参加人达到领取基本养老金年龄、完全丧失劳动能力、出国(境)定居,或者具有其他符合国家规定的情形,经信息平台核验领取条件后,可以按月、分次或者一次性领取个人养老金,领取方式一经确定不得更改。领取时,应将个人养老金由个人养老金资金账户转入本人社会保障卡银行账户。参加人死亡后,其个人养老金资金账户中的资产可以继承。

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