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Data:2009-12-12 2:34
Enterprises of Metallic does not belong to commercial insurance? Operation mode from the point of view, annuities and commercial insurance companies are similar, but the annuity is the behavior of enterprises and organizations, and commercial insurance is usually an individual for their own retirement and for the accumulation of acts, even though the commercial pension insurance groups insurance and annuities and businesses have a different nature.
Enterprise annuity can not completely replace commercial insurance
Enterprises can be chosen according to their own whether to participate in the benefits of enterprise annuity plan, but in general, the Government for the protection of employee benefits, often through means such as tax incentives to encourage enterprises to set up an enterprise annuity plan. Commercial insurance is entirely voluntary. The development of enterprise annuity, which means businesses to purchase commercial insurance for their employees are likely to reduce this sense can be considered enterprise annuity and commercial insurance is a relationship of mutual substitution.
But the enterprise annuity not be able to completely replace the commercial insurance, commercial insurance because there are still individuals to save for their retirement part. Old-age security system reform of China's goal is to establish the basic old-age pension, corporate pension and personal savings, the three-pillar system, with interest rates constantly adjust the individual pockets of "idle money" a gradual shift from bank deposits to pension dividends and other commercial insurance products in the transfer of pension This is Personal Finance for the international trend. At present, insurance companies, pension products on the market has basically guaranteed 2.5% interest rate, and no taxation, as opposed to one-year bank fixed deposit interest rate 1.8% (after tax), the commercial pension insurance has great advantages.
Enterprise annuity supplement to the Social Security
Insurance is not only a personal pension savings, there are advantages, but also in the enterprise annuity plan also play an important role. The Ministry of Labor and Social Security published the first batch of enterprise annuity fund management institutions, trustees, account managers and investment managers can be held by insurance companies. Enterprise Annuity Trust mode of operation using different managers assume different responsibilities, which pairs each of managers have different requirements in terms of relative to other financial institutions, insurance companies and investment in the fiduciary management (especially the long-term investment) less advantage.
Commercial pension insurance has gone from DB (Defined Benefit) to DC (defined contribution) stage, from the international point of view, the development trend of enterprise annuity also from DB to DC. This is mainly because DB plans upon retirement to receive the amount is determined, therefore, employees bring to bear the inflation risk of shrinking resources. The DC plan risks to inflation are borne by the enterprises.
With regard to taxation, commercial pension insurance, apart from dividends are not taxed, the do not enjoy any tax concessions. Annuity generally by the Government through tax breaks and other means to encourage enterprises to pay more for their employees, but for some individual contributions, generally do not enjoy tax concessions. In our case, enterprise annuities to TTE tax regime, tax payments and accumulated value-added stages, while in the receiving phase was not yet clearly defined to be taxed.
In the operating mode, the enterprise annuity system to take fully accrued. Is different from the basic old-age social insurance pay-system in the enterprise annuity plan staff obtained through the distribution of payments (including corporate contributions and individual contributions) all personal accounts. Commercial pension insurance is a kind of commercial activity, it is impossible from the height and level of society as a whole to co-ordinate the allocation of pension insurance funds, therefore, commercial pension insurance was only able to complete the cumulative system, individuals and groups through the establishment of individual accounts and groups accounts to management of retirement assets.
Can be seen that enterprise annuity is a basic social pension insurance supplement, the same commercial pension insurance, also have to add the role of the basic old-age insurance. To develop enterprise annuities, are not denying the commercial insurance, but with commercial insurance complement each other in order to achieve the basic old-age pension, corporate pension and personal savings, the three pillars of common development goals.
