领取个人养老金 为何要缴纳个人所得税

Core Viewpoint - The recent announcement by the Ministry of Human Resources and Social Security regarding the taxation of personal pensions has sparked widespread discussion among the public, particularly concerning the necessity of paying taxes on pensions upon withdrawal and the overall value of contributing to personal pensions [1][2]. Summary by Relevant Sections Definition and Differences - Personal pensions, introduced in a pilot program in November 2022 and set for nationwide implementation by December 2024, are designed as a supplementary retirement savings option, allowing individuals to voluntarily contribute up to 12,000 yuan per year into a personal pension account [2][3]. - Basic pensions, in contrast, are part of the first pillar of China's pension system, providing a monthly income to urban workers and rural residents upon reaching retirement age, without any tax obligations upon withdrawal [2]. Taxation Policy - Upon withdrawal, personal pensions are subject to a 3% personal income tax, which applies to both the principal and investment returns, differing from the tax-free status of basic pensions [2][3]. - The deferred tax policy for personal pensions allows contributions and investment gains to be tax-exempt until withdrawal, which is a common international practice aimed at encouraging participation in pension schemes [3]. Financial Implications - For middle and high-income individuals, contributing to personal pensions can yield significant tax savings and serve as a form of enforced savings for retirement, making the 3% tax at withdrawal relatively beneficial [4]. - Conversely, low-income individuals, especially those not subject to income tax, may find personal pensions less advantageous, as they do not benefit from tax savings during contributions and face taxation upon withdrawal [4]. Example Calculation - An example illustrates that an individual with a monthly income of 15,000 yuan, subject to a 10% tax rate, could save 1,200 yuan annually by contributing to a personal pension over 20 years, resulting in total tax savings of 24,000 yuan. Assuming a 3% annual return, the total amount at retirement would be approximately 320,000 yuan, with a 3% tax on withdrawal amounting to 9,600 yuan, leading to net tax savings of 14,400 yuan [4]. Conclusion - The personal pension system is designed to enhance retirement security, requiring individuals to consider their income, investment capabilities, and retirement plans when deciding on contributions and investment strategies [4].