Judging from the insurance process, taxpayers first need to have a personal account of a commercial bank to collect the payment, income and fund collection of tax deferred commercial endowment insurance. The account is closed and unique, and it is bound to the resident identity document.
Taxpayers are free to choose the products of qualified insurance companies. After purchasing products, insurance companies should issue invoices and policy vouchers, and the information platform established by China Insurance Information Technology Management Co., Ltd. will issue tax deferred pension deduction vouchers as tax deduction vouchers. Taxpayers provide relevant vouchers to withholding units, and withholding units handle related matters of pre-tax deduction according to regulations.
According to the notice, when taxpayers receive commercial pensions according to regulations (retirement, serious illness, etc. ), the insurance company will withhold and remit the personal income tax payable.
The premium deduction limit is determined according to the lower of 6% of the monthly salary and continuous labor remuneration or 1 000 yuan; Income from account funds will not be taxed temporarily; When receiving commercial pension, 25% of them are tax-free, and the remaining 75% pay personal income tax at the rate of 10%.
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On June 7th, 20 18, China Pacific Insurance Group issued the first personal tax deferred commercial endowment insurance policy in China. The insured customer is Cai Jun, the first domestic large aircraft C9 19. This marks the official implementation of the tax-deferred pension insurance policy that has been brewing for many years. Personal commercial endowment insurance, known as the "third pillar" supporting China's endowment insurance system, has ushered in a broader development space.
In May this year, the China Insurance Regulatory Commission of the Bank of China promulgated the Interim Measures for the Administration of Personal Tax Deferred Commercial Endowment Insurance Business, which clarified the basic operating norms and regulatory requirements of personal tax deferred commercial endowment insurance business.
On May 3 1, the list of the first batch of insurance companies engaged in tax-deferred pension insurance was announced, and Pacific Life Insurance, a subsidiary of China Pacific Insurance Group, was among them. On June 6th, four tax-deferred pension insurance products were approved for sale.
Baidu encyclopedia-personal tax deferred commercial endowment insurance