The Feasibility Study Of A Tax-Deferred Pension Insurance In China

As the degree of aging continues to deepen, the pension problem has increasingly become a difficult problem in our country. However, China’s current pension insurance system has not enough capacity to deal with the pension crisis. China’s three-pillar pension system faces enormous challenges. This paper takes the existing "three-pillar" pension system as a starting point, the individual tax-deferred pension insurance commercial feasibility study for the main content. Adopt research methods quantitative analysis and qualitative analysis combining the economic and social costs from the state and society to analyze the feasibility of a tax deferred pension insurance.Based on the present situation of the population aging degree deepening, there are many problems in our existing old-age security system, the basic social pension insurance and enterprise annuity can no longer meet the needs of the whole society of the elderly. Objectively, the development of personal savings pension insurance as an important supplement becomes necessary. But the development of individual endowment insurance started late in China, people’s risk and insurance awareness is not strong, personal savings to buy endowment insurance are not enthusiastic. As an important means of national macro-control, taxation has a regulatory important function to economic development. Implement tax incentives for individual commercial pension insurance will guide and inspire individuals to buy commercial pension insurance and enhance the social pension security level. Tax and duty free may exist separately in the three stages of commercial pension-insurance contributions, investment and claim, the commercial pension insurance is divided into eight different tax advantages mode. By setting parameters and compares different mode of net pension and tax, we found the best choice of the mode is EET. By building a commercial pension insurance equilibrium model with the main economic data of China from2003to2012, the calculated equilibrium rate to achieve the10%target substitute ratio of personal commercial endowment insurance is 5.59%.This next study makes a sensitivity analysis and found that commercial pension insurance contribution rate and the target replacement rate, inflation rate, wage growth in the relationship between changes in the positive direction, the contribution rate and life insurance, investment yields a negative change in the direction of the relationship.For the feasibility of a tax-deferred pension insurance practice, the paper obtained the balance of the rates, the10%target replacement rate and tax incentives linked to the three analyzes national and social gains in tax incentives and loss analysis and measurement results suggest that the implementation of the tax revenue loss to the state pension delay caused by the carrying capacity of the country.Finally, this paper have concluded the possible problems and shortcomings on a tax deferred pension insurance pilot course and attempts to put forward a solution of ideas, methods and recommendations.