第三支柱个人养老金财税激励制度设计：基于国际经验的中国路径^*

内容提要：第三支柱个人养老金通常是由个人主导、国家给予财税政策支持、个人自愿参与的养老金制度模式，定位为第一支柱基本养老保险制度之外的额外养老储备。个人参与积极性是影响第三支柱个人养老金制度发展的决定因素，而个人参与的积极性又受到参与激励性、制度灵活性、选择广泛性等核心要素的制约。中国第三支柱个人养老金的未来发展应在借鉴国际经验的基础上，采取EET和TEE相结合的税收优惠模式，同时辅以对低收入群体的财政补贴机制，实现参与激励性；应尝试在缴费投资、资金管理、待遇领取等环节采取灵活的设计方案，提高第三支柱个人养老金的吸引力；此外，还应保障投资产品和渠道多样化，满足差异化社会需求。中图分类号：F810.42 文献标识码：A 文章编号：2095-6126(2022)12-0033-09

Abstract:The third pillar individual pension is usually a pension system model dominated by individuals, supported by tax policies and voluntary participation of individuals. It is positioned as additional pension savings in addition to the irst pillar basic pension system. The enthusiasm of individual participation is the decisive factor for the development of the third pillar individual pension system, which is restricted by the core elements such as participation incentive, system lexibility and extensive choice. The future development of China’s third pillar individual pension should adopt the tax preference mode of combining EET and TEE on the basis of international experience, supplemented by the inancial subsidy mechanism for low-income groups, so as to realize the incentive of participation. At the same time, we should try to adopt lexible design schemes in the links of contribution investment, funds management and entitlement given to improve the attraction of the system. In addition, we should also ensure the diversiication of investment products and channels to meet differentiated needs.

关键词：第三支柱个人养老金,税收优惠,财政补贴,Keywords: Third pillar individual pension,Tax incentives,Financial subsidies