商业养老保险个人税收递延与财政政策选择——基于OLG模型的研究

发布时间：2018-11-01 10:52

【摘要】：个人税收递延型商业养老保险试点对促进养老保险发展、提高国民养老保障水平具有重要意义。实施商业养老保险个人税收递延政策后,政府为应对税收收入下降,可采用降低财政支出、发行政府债券、提高个人所得税税率三种不同的财政政策措施。运用宏观经济均衡的OLG模型,研究上述三种不同财政政策措施对经济均衡及个人、企业最优缴费率的影响。结果表明:三种财政政策措施都能提高居民退休期消费和居民效用;发行政府债券能够较大幅度提高居民的退休期消费,但会对经济增长产生一定的负面影响,而减少财政支出和提高个人所得税税率有助于促进经济增长,但对居民退休期消费的正向影响较小;减少财政支出和提高个人所得税税率会大幅降低社会基本养老保险最优个人缴费率并小幅提高最优企业缴费率,发行政府债券对缴费率的影响正好相反。本文研究结论的政策启示是:有关部门需要为个人税收递延型商业养老保险的试点和推广做好财政政策及配套政策的研究和储备,确保预期政策目标的顺利实现;同时考虑对基本养老保险缴费率组合进行调整,实现社会福利的帕累托改进。
[Abstract]:Individual tax deferred commercial endowment insurance pilot is of great significance to promote the development of pension insurance and improve the level of national old-age security. In order to cope with the decline of tax revenue, the government may adopt three different fiscal policy measures, which are reducing fiscal expenditure, issuing government bonds and raising the tax rate of individual income tax after the implementation of the deferred policy of individual taxation of commercial old-age insurance. By using the OLG model of macroeconomic equilibrium, this paper studies the effects of the above three kinds of different fiscal policies on the economic balance and the optimal contribution rates of individuals and enterprises. The results show that: the three kinds of fiscal policies and measures can improve the residents' retirement consumption and residents' utility; The issuance of government bonds can greatly increase residents' retirement consumption, but will have a negative impact on economic growth, while reducing fiscal expenditure and raising personal income tax rates will help promote economic growth. However, the positive influence on residents' retirement consumption is small; Reducing fiscal expenditure and raising the personal income tax rate will significantly reduce the optimal personal contribution rate of social basic old-age insurance and slightly increase the optimal corporate contribution rate. The effect of issuing government bonds on the contribution rate is the opposite. The policy implications of the conclusions of this paper are as follows: the departments concerned need to do a good job in the research and reserve of fiscal policy and supporting policies for the pilot and promotion of individual tax deferred commercial old-age insurance, so as to ensure the smooth realization of the expected policy objectives; At the same time, we consider adjusting the contribution rate of basic old-age insurance to realize the Pareto improvement of social welfare.
【作者单位】：中央财经大学保险学院;
【基金】：教育部人文社会科学重点研究基地重大项目《变额年金的定价与风险管理》(项目编号:14JJD790001) 北京市哲学社会科学重点项目《人口老龄化背景下中国养老产品供求研究》(项目编号:15ZDA47)的资助
【分类号】：F812;F842.67

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