Extension of tax pension insurance products Floor: third pillar to be carried out in the form of how?

Personal tax deferred annuities Insurance (hereinafter referred to as "tax extension Annuity") pilot project last fall to a son。  Recently, the 12 life insurance companies ranked among the first list of the sales tax extension of pension insurance, individual insurance firms immediately launched a variety of products has long been poised。  In various little product differentiation, the insurance firms should be how to stand out?How should consumers choose insurance company?Extension of tax pension model of the future development of the Way?These problems are also caused industry attention。  Product homogeneity test in insurance firms Relay "sun single" at the same time, the industry will be turning more competition on the product itself and insurance firms。  Insiders said the "tax extension pension insurance product design from the strict regulatory level, detailed specifications, subject to 'steady income, long-term lock, lifelong receive, actuarial balance' principle, the industry announced a" personal tax-deferred commercial pension develop guidelines "Terms and product demonstrations。From this stage the terms of approved products see little difference between the products of various insurance firms。"Director of the Institute of Rural Insurance Capital University of Economics, doctoral tutor Tuo Guozhu view, the investment capacity is to determine whether the insurance firms to seize a larger market share in the key。"For consumers, the company's different product comparison is not difficult。Just look at the premium access period, to purchase products under the same type of situation, the amount of future pensioners there is no difference on it。"In addition, Tuo Guozhu pointed out that, under the same conditions, income, quality caring service, has become the key to winning insurance firms。  In this regard, deputy director of the Financial Research Institute of the State Council, Zhu Junsheng agreed Insurance。"In the long run, the insurance companies should improve their ability to invest。The same type of product, the higher investment income must be able to attract more consumers。In addition, the company's brand, reputation, and service is a necessary condition for an insurance company to seize market share。"He said。  According to statistics, from 2011 to 2017 in six years, the domestic life insurance company's investment rate from 1.3% in 2015 soared to 8.1%, but it dropped to 4 in 2016.07% in 2017 has gone up, the overall insurance investment rate of return of about 5%。  "Insurance companies also from 5% in yield spreads earned, what is truly in the hands of the consumer's income is more limited, and usually 2.5%?3.5%。If you can not effectively improve the investment income, affected by inflationary expansion, increasing the value of pensions will likely be greatly reduced。"Zhu Junsheng said that insurance firms on how to improve the return on investment the key to stand out in a number of its competitors, but also the extension of old-age security tax mode implement the necessary conditions。  It is worth noting that, according to "individual tax-deferred pension insurance business product development guidelines" provides tax extension pension insurance product conversion more flexible, consumer product according to convert between demand can be within the same insurance company or inter-insurance company, it also intensified the competition in insurance firms。  "Required to pay a fee when customers Although the conversion products in different companies, insurance firms, after all, but want to stay in their client company, which makes insurance companies face enormous pressure。"Zhu Junsheng said frankly," This way to the consumer the right to choose Forced insurance firms are also more concerned about their return on investment, pay more attention to cultivate the ability to invest, so the insurance company to better serve customers。"For tax extension pension insurance products appear homogenization of the problem, Zhu Junsheng believe that this should lead to regulatory authorities。"In order to avoid product homogeneity, so that the various market players have more room to develop different products to meet the needs of different consumers, regulatory authorities for the extension of tax endowment product can make more principled provisions need not be too careful。So that each company can according to their characteristics and needs of diverse consumer product design, thereby giving consumers more choice space。"Tax Extension pension 'beginner's mind' although insurance firms to seize market share in their brains, but extend tax pension mode in China's development direction is still uncertain。  Pension tax extension mode what can not solve China's pension problem?"From the current situation, it is obviously very limited。"Tuo Guozhu that the development of the third pillar will have a long way to go。During this time there will be many changes in the environment, such as market, currency changes and other capital markets, "These factors together to determine the age of the pensioners top when the funds have not useful。Therefore, the third pillar can only play a supplementary role。"In fact, it also represents the mainstream academic point of view。  China tax issues for the extension of pension mode "Where is the way", the CASS Institute of Finance experts believe that the situation in China and Germany is very similar to Chinese tax extension pension model in the early stages of development can learn from Germany。  It is understood that the tax advantages of pension policy in Germany is divided into direct subsidies and tax deferred pay, the former refers to the direct administration of the insured population with a certain amount of incentives or subsidies, such as the German government's Riester pension plan participants an annual basis of subsidy given to 154 euros (308 euros per year for married couples in total) and child allowance of 185 euros (this level for children born before 2008, compared with children born after 2008 300 euros per year)。  In this regard, some experts suggested that China, while implementing tax deferred, by way of direct subsidies given to low-income people tax incentives, financial and insurance visualize the specific amount each year to determine the status of。  In addition, "China Business" reporter access to information found from international experience, Germany, Britain and other countries of the insurance industry to play a leading role in the third pillar pension, even early in the insurance industry only allowed to carry out such operations, then gradually open to banks, funds, asset management and other industries。  "This is similar to the situation in China, and soon after, China will be the introduction of banks, funds, asset management and other investment model of development of the third pillar。"However, the experts do not believe this will help ease the pressure on pension funds," the third pillar give tax incentives to develop the third pillar of pension insurance business as the main body, and its fundamental purpose is to encourage people to use tax policy to establish autonomous pension Kim plans to accumulate a sum of long-term security of pension assets for their retirement reserves to ease public pension replacement rate is declining and the pension gap and other issues, making it more masses of the people can live a good retirement。Investment is only a means, not the fundamental purpose。Select the investment patterns will change the construction of the third pillar of early heart。"The expert further explained that, if you want to invest in high-yield products that people can buy direct stocks, funds and other financial products, investment tax extension pension insurance products is even less necessary," Buy this product is not tax pension insurance extension do not pay taxes, but the tax is postponed until pension time, it means that the higher the return on investment have to pay more taxes, which also makes 'tax extension' itself lose value。"In addition, as it involves before tax, purchase tax extension pension insurance products than any other part of a general insurance。That is, after insurance, to register and log in to download the platform mediator letter "extension of pension tax deduction certificate", and then this certificate handed over to the unit personnel or financial department to make tax deductions。  Printing news that the download link is expected to submit deduction voucher improvement from July, the system can automatically generate documents and automatically deduct the company passed to the insured, then you do not have to download their own submitted。Accordingly, the reporter has silver CIRC confirmation, as of press time yet to receive a reply。  "Whether the news is true, at least be able to prove that China extended pension tax already on the road, we should pension model development path of China's tax extension are confident that the future will continue to optimize the pension tax extension in practice。"An industry source said。(Original title: Tax extension of pension insurance products fall: how to be the third pillar of mode?) (Editor: DF142)