Q：
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What kind of preferential tax policies are available for personal pension scheme?
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A：
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In the payment phase, the personal contributions to the personal pension fund account will be deducted from the comprehensive income or operating income based on the actual amount but capped at 12000 yuan/year.
In the investment phase, the investment income included in the personal pension fund account is not subject to personal income tax temporarily.
During the receiving phase, the personal pension received by participants is not included in the comprehensive income, and the personal income tax is calculated and paid separately at the rate of 3%, and the tax paid is included in the "income from wages and salaries" item.
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Q：
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Can the personal pension fund account be changed?
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A：
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Yes. Participants can change their personal pension fund accounts between different commercial banks.
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Q：
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When can a personal pension be received?
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A：
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The personal pension fund account operates in a closed way. If the participants meet any of the following conditions, they can receive their personal pension:
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Reach the age of receiving basic pension;
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Completely lose the ability to work;
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Reside abroad;
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Other situations stipulated by the State Government.
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Q：
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In what ways can a personal pension be received, can it be received by month or by time?
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A：
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Yes, personal pension can be received monthly, in instalments or in lump sum.
When the participants receive the payment by month, they can receive the payment in the number of months determined by the basic endowment insurance, or in the number of months selected by themselves, until the collection is completed; Or they can receive monthly at a fixed amount determined by themselves, until the collection is completed
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Q：
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Can the assets in the personal pension fund account be inherited?
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A：
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Yes, the assets in personal pension fund account can be inherited in case of death of the participants.
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FAQ
