Many people have misunderstood!, Can't participate without being in the first city? Account cannot be changed? Personal pension and other related matters

Last November, the personal pension system was launched and implemented in 36 pilot cities, and the overall operation was stable.

While China's personal pension system is steadily advancing, there may still be some doubts and misunderstandings - can't one participate without working in a leading city? Can the fund account be changed to a different bank? How to query the financial products and corresponding benefits that an individual's pension can purchase

Read this article and explain it to you clearly!

Can those whose registered residence is in the leading city but who are not employed in the leading city participate in individual pension?

At present, personal pension is being piloted in 36 cities or regions such as Beijing, Shanghai, Guangzhou, Xi'an, and Chengdu.

One click search for leading cities ↓

List of Leading Cities for Personal Pension

Any worker who has established a basic pension insurance relationship in these places can participate in personal pension, regardless of the actual workplace or the location where the personal pension fund account is opened.

That is to say, one of the prerequisites for participating in personal pension is to participate in basic pension insurance.

According to the priority work arrangement, workers with basic pension insurance relationships in priority cities can participate in personal pension even if they are not currently employed in priority cities.

Less than a year before retirement,

Can I still participate in personal pension?

According to the Opinions of the General Office of the State Council on Promoting the Development of Personal Pension, workers who participate in urban employee basic pension insurance or urban and rural resident basic pension insurance within China can participate in the personal pension system.

Therefore, those who have not retired can participate in personal pension and add a supplementary pension security channel, which is an additional pension income!

Retirees have received basic pension insurance benefits and will no longer participate in the personal pension system.

How to query the financial products and corresponding benefits that an individual's pension can purchase?

Personal pension contributions are borne by the participants themselves, with an annual payment limit of 12000 yuan. They can be paid monthly, in installments, or annually, with the payment amount accumulated over the natural year and recalculated the following year. The method is very flexible.

Participants can open personal pension accounts on the information platform through the national unified online service portal or commercial bank channels; Then choose a commercial bank to open or designate my own unique personal pension fund account, or designate it through other qualified personal pension product sales institutions.

The funds in the fund account can independently choose to purchase personal pension products such as savings deposits, wealth management products, commercial pension insurance, public funds, etc. that comply with regulations.

The financial products involved in personal pension are determined by relevant financial regulatory departments and released to the public through personal pension information management service platforms and financial industry platforms.

The specific income situation can be queried by participants through the sales agency of the financial product.

Can the personal pension fund account be changed to a different bank?

Participants can change the opening bank of their fund account and cancel the original fund account after transferring the funds from the original fund account to the new fund account.

If part of the payment has already purchased personal pension products, the funds that have not been purchased can be transferred first, and the corresponding funds can be transferred after the personal pension products are redeemed.

The original fund account cannot make any further payments or purchase products until the funds and assets have been fully transferred. It can only be cancelled after the full transfer is completed.

Inherit personal pension account income,

Do I need to pay taxes?

Participating in personal pension can enjoy tax benefits. According to the Announcement on Personal Income Tax Policies Related to Personal Pension, the contributions made by individuals to their personal pension fund accounts shall be deducted from their comprehensive income or operating income based on the actual amount according to the limit standard of 12000 yuan/year; The investment income included in the personal pension fund account is temporarily exempt from personal income tax; The personal pension received by individuals is not included in the comprehensive income, and individual income tax is calculated and paid separately at a 3% tax rate.

If a participant dies, the assets in their personal pension fund account can be inherited. If the social security card of the participant is cancelled due to reasons such as settlement abroad or death, the commercial bank will transfer the funds in the participant's personal pension fund account to the fund account designated by the participant or their heir.

Inheritance is a special form of receiving benefits, and individual income tax should also be calculated and paid separately at a 3% tax rate in accordance with regulations.