个人养老金制度调整优化

Core Viewpoint - The recent notification from the Ministry of Human Resources and Social Security and four other departments aims to enhance the flexibility of the personal pension system in China by introducing new conditions for accessing personal pensions, effective from September 1, 2023 [1][2]. Group 1: Policy Adjustments - The notification adds three new scenarios under which individuals can access their personal pensions, in addition to existing conditions such as reaching the retirement age or complete loss of working ability [1]. - The first new condition allows individuals to withdraw personal pension funds if they or their family members incur medical expenses exceeding the average disposable income of residents in their province after insurance reimbursements [1]. - The second condition permits access if the individual has received unemployment insurance for a cumulative total of 12 months within the last two years [1]. - The third condition allows individuals currently receiving minimum living security benefits to access their personal pensions [1]. Group 2: Application Process - The notification expands the channels for applying to access personal pensions, including the National Social Insurance Public Service Platform, electronic social security cards, and the 12333 App, in addition to traditional bank applications [2]. - Unlike the mandatory basic pension insurance, personal pensions are supplementary, and applications for withdrawal will be verified by social insurance agencies before funds are transferred to the individual's social security card bank account after tax deductions [2]. - Participants can continue to contribute to their personal pension accounts after early withdrawals, except when they reach the retirement age, allowing for increased pension accumulation [2].