2013 2 Social Security Studies No. 2 2013 * 工资异质性的视角 郭磊苏涛永 ( 同济大学经济与管理学院, 上海,200092) 引入工资差异对企业职工企业年金缴费意愿的影响, 采用仿真方法测量企业年金对企业与机关事业单位职工养老金差距的影响首先, 根据我国养老制度安排, 构建了企业年金基金 基本养老金 退休金预测模型和养老金差距测量指标 ; 其次, 选取 工资水平从社平工资的 0. 5 倍 ~ 5. 0 倍的 14 类代表性职工, 模拟了基准情境和提高企业 年金税收优惠的四种情境 提高雇主缴费的企业所得税免税上限 降低雇主缴费计入 个人账户部分的个人所得税税率 降低领取阶段的个人所得税税率 免征个人缴费的个 人所得税, 并进行了敏感性分析仿真结果表明, 企业年金及其税收优惠政策能够有效 缩小企业与机关事业单位职工养老金差距, 提高雇主缴费的企业所得税免税上限的作用 最显著企业年金投资收益率提高 企业年金管理费率降低 余寿减少 社平工资增长率提高和工作年限增加都会放大这种作用, 反之亦然工资越高企业职工从企业年金中获 益越大, 可能扩大企业职工内部养老金差距 养老金差距 ; 工资异质性 ; 仿真 ; 企业年金 ; 税收优惠 1 2006 60 35 90% 30 35 85% 20 30 80% 2005 38 8% 20% 2006 1 1 + 1% 2 + 48 * IICKT201013 06JJD840009
2 7 2012 3 20 30 Disney R Emmerson C 4 Fehr H Habermann C OECD 5 Fehr H Habermann C 6 7 8 Kifmann M 9 Leroux ML Pestieau P 49
10 Brunner J K Pech S 1 1 2004 1 2 1 3 60% 100% 300% 1 4 1 5 2004 1 6 1 7 Markov 1 8 2030 1 9 首先, 国外文献较少考虑我国国情 其次, 国内文献较少考虑企业年金缩小企业与机关事业单位职工养老金差距的作用 第三, 较少考虑工资差异对职工缴费意愿的影响 50
t w t gw t h i w t h i pc rpc te h i w t te tc te l i l i h i h i l i h i l i = 0 t h i w t te 1 - tc + l i tm rea t = R 2005 38 tb lt t = R 2006 60 jgr lt 1. 退休时点养老金账户现值 1 EA i EA i = R t = 1 h i w 1 te 1 - tc + l i 1 + gw t - 1 1 - tm R - t 1 + rea R - t 1 - tb 2005 38 = + 1% 2 = / R 2005 38 3 0. 6 3 3 0. 6 0. 6 PB i PB i = 0. 5 1 + h i w 1 1 + gw R - 1 R% lt 51
PC i PC i = R t = 1 h i w 1 pc 1 + gw t - 1 1 + rpc R - t h i > 3 h i = 3 h i < 0. 6 h i = 0. 6 PP i = PC i + PB i TP i = EA i + PC i + PB i 2 h i DB i 2. 养老金差距指数 DB i = h i w 1 1 + gw R - 1 jgr lt IDBPP i = DB i /PP i IDBTP i = DB i /TP i > 1 3. 养老金差距缩小指数 IEATP i = IDBPP i - IDBTP i / IDBPP i = EA i / TP i 4. 政策变动指数 α β IEATP i Pαβ i = IEATP i β - IEATP i α / IEATP i α IEATP i β IEATP i α β α h i 0. 6 3 0. 5 3 ~ 5 h i 1 l i 0. 6 h i = 0. 5 l i = 0 h i ~ l i 1 l i 2 l i 3 l i 4 l i 5 l i 6 l i 1 52 w t w 1 = 1 w t + 1 = w t 1 + gw te
2009 27 5% te = 0. 05 te 0. 06 0. 07 0. 08 0. 09 0. 10 1 h i l i 1 l i 2 l i 3 l i 4 l i 5 l i 6 h i l i 1 l i 2 l i 3 l i 4 l i 5 l i 6 5 2 2. 1 2. 2 2. 3 2. 4 2. 5 1. 5 0. 7 0. 8 0. 9 1 1. 1 1. 2 4. 5 1. 8 1. 9 2 2. 1 2. 2 2. 3 1 0. 6 0. 7 0. 8 0. 9 1 1. 1 4 1. 6 1. 7 1. 8 1. 9 2 2. 1 0. 9 0. 5 0. 6 0. 7 0. 8 0. 9 1 3. 5 1. 4 1. 5 1. 6 1. 7 1. 8 1. 9 0. 8 0. 4 0. 5 0. 6 0. 7 0. 8 0. 9 3 1. 2 1. 3 1. 4 1. 5 1. 6 1. 7 0. 7 0. 3 0. 4 0. 5 0. 6 0. 7 0. 8 2. 5 0. 9 1 1. 1 1. 2 1. 3 1. 4 0. 6 0. 2 0. 3 0. 4 0. 5 0. 6 0. 7 2 0. 8 0. 9 1 1. 1 1. 2 1. 3 0. 5 0 0. 1 0. 2 0. 3 0. 4 0. 5 tc 2009 694 5% 30000 2011 9 10% 30000 5 tc = 0. 03 tc 0. 05 0. 04 0. 02 0. 01 0 gw 30 gw = 0. 05 gw 0. 075 0. 1 tm 0. 2% 1. 2% 0. 016 tm = 0. 016 rpc 1997 26 3% rpc = 0. 03 rea rea = 2 rpc tb tb = 0 tb 0. 05 0. 04 0. 03 0. 02 0. 01 pc 2005 38 8% pc = 0. 08 R = 30 25 35 lt = 25 jgr 2006 60 35 90% 30 35 85% 20 30 80% R = 30 jgr = 0. 85 53
1. 基准情境 DB i PP i EA i TP i IDBPP i IDBTP i IEATP i 2 2 h i DB i PP i EA i TP i IDBPP i IDBTP i IEATP i 5 411. 6136 84. 47819 83. 39612 167. 8743 4. 872424 2. 451915 0. 496777 4. 5 370. 4522 84. 47819 70. 0022 154. 4804 4. 385181 2. 398053 0. 453146 4 329. 2908 84. 47819 57. 73145 142. 2096 3. 897939 2. 315531 0. 40596 3. 5 288. 1295 84. 47819 46. 58389 131. 0621 3. 410697 2. 19842 0. 355434 3 246. 9681 84. 47819 36. 55951 121. 0377 2. 923454 2. 040423 0. 302051 2. 5 205. 8068 72. 97108 26. 25433 99. 22541 2. 820388 2. 074134 0. 264593 2 164. 6454 61. 46396 19. 88029 81. 34425 2. 678731 2. 024057 0. 244397 1. 5 123. 4841 49. 95685 14. 06783 64. 02468 2. 471815 1. 928695 0. 219725 1 82. 32271 38. 44974 8. 816963 47. 2667 2. 141047 1. 741664 0. 186536 0. 9 74. 09044 36. 14831 7. 429836 43. 57815 2. 049624 1. 700174 0. 170495 0. 8 65. 85817 33. 84689 6. 155027 40. 00192 1. 945767 1. 646375 0. 153868 0. 7 57. 6259 31. 54547 4. 992535 36. 538 1. 826757 1. 57715 0. 13664 0. 6 49. 39363 29. 24405 3. 942362 33. 18641 1. 689015 1. 488369 0. 118794 0. 5 41. 16136 29. 24405 2. 723712 31. 96776 1. 407512 1. 28759 0. 085202 h i DB i > PP i DB i > TP i IDBPP i > IDBTP i > 1 IEATP i > 0 5 4. 87 2. 45 49. 68% IDBPP i IDBTP i IEATP i h i 0. 5 1. 69 1. 49 11. 88% h i = 5 2. 提高对雇主的企业所得税优惠 te 0. 05 0. 06 0. 07 0. 08 0. 09 0. 10 IEATP i IEATP i 3 54
3 h i te IEATP i 雇主缴费的企业所得税免税上限 ( te) 0. 05 0. 06 0. 07 0. 08 0. 09 0. 10 5 0. 496777 0. 528224 0. 566397 0. 598855 0. 626792 0. 651091 4. 5 0. 453146 0. 48449 0. 523006 0. 556167 0. 585017 0. 610346 4 0. 40596 0. 436646 0. 474863 0. 508224 0. 537599 0. 563663 3. 5 0. 355434 0. 384774 0. 42185 0. 454712 0. 484039 0. 510372 3 0. 302051 0. 329235 0. 364127 0. 395569 0. 424047 0. 449963 2. 5 0. 264593 0. 289806 0. 322529 0. 352369 0. 379691 0. 404801 2 0. 244397 0. 268388 0. 299713 0. 328465 0. 35495 0. 379425 1. 5 0. 219725 0. 24207 0. 271463 0. 298661 0. 323902 0. 347389 1 0. 186536 0. 206399 0. 232791 0. 257484 0. 280637 0. 30239 0. 9 0. 170495 0. 189046 0. 213817 0. 237119 0. 25908 0. 279812 0. 8 0. 153868 0. 170984 0. 193954 0. 215685 0. 236276 0. 255813 0. 7 0. 13664 0. 152183 0. 173155 0. 193115 0. 212133 0. 230276 0. 6 0. 118794 0. 13262 0. 151377 0. 169341 0. 186559 0. 203078 0. 5 0. 085202 0. 095542 0. 109718 0. 123457 0. 136778 0. 149701 h i te IEATP i te 5 0. 05 0. 1 IEATP i 49. 68% 65. 11% te te IEATP i h i 3. 提高雇主缴费的个人所得税优惠 tc 0. 05 0. 04 0. 03 0. 02 0. 01 0 IEATP i 4 h i tc IEATP i 5 0. 05 0 IEATP i 48. 10% 48. 52% tc tc te 5 IEATP i 48. 10% 48. 52% IEATP i 49. 68% 65. 11% tc te 55
tc IEATP i h i 4 tc IEATP i h i 雇主缴费计入个人账户部分的个人所得税税率 ( tc) 0. 05 0. 04 0. 03 0. 02 0. 01 0 5 0. 480993 0. 481838 0. 48268 0. 48352 0. 484356 0. 48519 4. 5 0. 437423 0. 438316 0. 439207 0. 440094 0. 440979 0. 441862 4 0. 390569 0. 391501 0. 392431 0. 393357 0. 39428 0. 395201 3. 5 0. 340711 0. 341665 0. 342617 0. 343566 0. 344512 0. 345456 3 0. 288388 0. 289341 0. 290292 0. 29124 0. 292186 0. 293129 2. 5 0. 251731 0. 252748 0. 253762 0. 254773 0. 255782 0. 256788 2 0. 232098 0. 233115 0. 23413 0. 235141 0. 23615 0. 237157 1. 5 0. 208213 0. 209211 0. 210206 0. 211199 0. 212189 0. 213177 1 0. 176258 0. 177193 0. 178127 0. 179058 0. 179988 0. 180915 0. 9 0. 160806 0. 161736 0. 162664 0. 163589 0. 164513 0. 165434 0. 8 0. 144835 0. 145751 0. 146666 0. 147579 0. 148489 0. 149398 0. 7 0. 128333 0. 129227 0. 13012 0. 13101 0. 131898 0. 132785 0. 6 0. 111298 0. 112157 0. 113015 0. 113871 0. 114725 0. 115578 0. 5 0. 079371 0. 080139 0. 080906 0. 081672 0. 082437 0. 0832 4. 提高企业年金领取阶段的个人所得税优惠 tb 0. 05 0. 04 0. 03 0. 02 0. 01 0 IEATP i 5 5 tb IEATP i h i 企业年金领取阶段的个人所得税税率 ( tb) 0. 05 0. 04 0. 03 0. 02 0. 01 0 5 0. 469886 0. 472496 0. 475079 0. 477637 0. 480171 0. 48268 4. 5 0. 426615 0. 429178 0. 431719 0. 434237 0. 436733 0. 439207 4 0. 380271 0. 382741 0. 385193 0. 387624 0. 390037 0. 392431 3. 5 0. 331159 0. 333483 0. 33579 0. 338081 0. 340357 0. 342617 3 0. 279839 0. 281954 0. 284057 0. 286147 0. 288226 0. 290292 2. 5 0. 244172 0. 24611 0. 248037 0. 249955 0. 251864 0. 253762 2 0. 225058 0. 226889 0. 228712 0. 230527 0. 232332 0. 23413 1. 5 0. 201817 0. 203509 0. 205194 0. 206872 0. 208542 0. 210206 1 0. 170741 0. 172229 0. 173711 0. 175188 0. 17666 0. 178127 56
5 h i 企业年金领取阶段的个人所得税税率 ( tb) 0. 05 0. 04 0. 03 0. 02 0. 01 0 0. 9 0. 155798 0. 15718 0. 158557 0. 159931 0. 161299 0. 162664 0. 8 0. 140362 0. 14163 0. 142895 0. 144155 0. 145413 0. 146666 0. 7 0. 124423 0. 125568 0. 126711 0. 12785 0. 128986 0. 13012 0. 6 0. 107974 0. 108987 0. 109997 0. 111005 0. 112011 0. 113015 0. 5 0. 077173 0. 077922 0. 07867 0. 079417 0. 080162 0. 080906 h i tb IEATP i 5 0. 05 0 IEATP i 46. 99% 48. 27% tb tc IEATP i h i 5. 免征个人缴费的个人所得税 l i l i 1 l i 2 l i 3 l i 4 l i 5 l i 6 1 IEATP i 6 6 h i l i IEATP i 职工缴费意愿 ( l i ) l i 1 l i 2 l i 3 l i 4 l i 5 l i 6 5 0. 48268 0. 490953 0. 498966 0. 50673 0. 514257 0. 521558 4. 5 0. 439207 0. 44796 0. 456444 0. 464671 0. 472653 0. 4804 4 0. 392431 0. 401568 0. 410436 0. 419044 0. 427404 0. 435527 3. 5 0. 342617 0. 351985 0. 36109 0. 369942 0. 378553 0. 386931 3 0. 290292 0. 299661 0. 308785 0. 317675 0. 326339 0. 334786 2. 5 0. 253762 0. 263753 0. 27348 0. 282953 0. 292183 0. 301178 2 0. 23413 0. 244128 0. 253869 0. 263362 0. 272616 0. 281641 1. 5 0. 210206 0. 220024 0. 2296 0. 238945 0. 248065 0. 256969 1 0. 178127 0. 187347 0. 196363 0. 20518 0. 213806 0. 222248 0. 9 0. 162664 0. 171828 0. 180794 0. 189567 0. 198155 0. 206563 0. 8 0. 146666 0. 155705 0. 164554 0. 173219 0. 181707 0. 190022 0. 7 0. 13012 0. 138942 0. 147587 0. 15606 0. 164366 0. 17251 0. 6 0. 113015 0. 1215 0. 129825 0. 137994 0. 146011 0. 15388 0. 5 0. 080906 0. 088509 0. 095987 0. 103343 0. 11058 0. 117702 h i l i IEATP i 57
5 2 l i 1 2. 5 l i 6 IEATP i 48. 27% 52. 16% l i IEATP i h i IEATP i = EA i /TP i DC IEATP i gw 0. 05 0. 075 0. 1 R 25 30 35 tc 0. 05 0 Pαβ i 7 7 gw R Pαβ i h i 社平工资增长率 ( gw) 工作年限 ( R) 0. 05 0. 075 0. 10 25 30 35 5 0. 008726 0. 0097023 0. 010553 0. 008668 0. 008726 0. 008784 4. 5 0. 010148 0. 01117175 0. 012047 0. 010087 0. 010148 0. 01021 4 0. 01186 0. 01291569 0. 013804 0. 011795 0. 011859 0. 011924 3. 5 0. 013927 0. 01499979 0. 015887 0. 013861 0. 013926 0. 013993 3 0. 01644 0. 01750446 0. 01836 0. 016374 0. 016439 0. 016505 2. 5 0. 020089 0. 02122698 0. 022134 0. 020015 0. 020087 0. 02016 2 0. 021797 0. 02295355 0. 023856 0. 02172 0. 021796 0. 021872 1. 5 0. 023841 0. 02498844 0. 025873 0. 023765 0. 023843 0. 023922 1 0. 026421 0. 02753342 0. 028362 0. 026342 0. 026422 0. 026502 0. 9 0. 02878 0. 02988937 0. 030709 0. 028696 0. 028778 0. 02886 0. 8 0. 031505 0. 03260569 0. 033424 0. 031421 0. 031504 0. 031586 0. 7 0. 034691 0. 03577099 0. 036564 0. 034605 0. 034689 0. 034772 0. 6 0. 038455 0. 03951067 0. 040253 0. 03837 0. 038453 0. 038536 0. 5 0. 048242 0. 04919851 0. 049884 0. 048178 0. 048253 0. 048327 58
h i gw R Pαβ i 5 gw 0. 05 0. 075 0. 1 tc 0. 05 0 0. 87% 0. 97% 1. 06% R 25 30 35 0. 867% 0. 873% 0. 878% gw R gw R Pαβ i h i 0. 05 5 0. 5 0. 87% 4. 82% 35 0. 88% 4. 83% 1 2000 2000 42 4% 31 15 4% 12. 5% 2006 41 2008 2008 34 4% 2009 6 2009 27 5% 12 2009 694 2009 2 59
2009 401 k 20 3 4 1 2010 2 2 2009 1 3 2007 5 4 Disney R Emmerson C Wakefield M. Tax reform and retirement saving incentives take - up of stakeholder pensions in the UK. Economica 2010 77 4 213-233. 5 Fehr H Habermann C Kindermann F. Tax - favored retirement accounts Are they efficient in increasing savings and growth. Finanzarchiv 2008 64 2 171-198. 6 Fehr H Habermann C. Private retirement savings and mandatory annuitization. International Tax and Public Finance 2010 17 6 640-661. 64. 7 2003 6 8 2010 2 9 Kifmann M. Age - dependent taxation and the optimal retirement benefit formula. German Economic Review 2008 9 1 41-10 Leroux M L Pestieau P Ponthiere G. Optimal linear taxation under endogenous longevity. Journal of Population Economics 2011 24 1 213-237. 60 11 Brunner J K Pech S. Optimum taxation of life annuities. Social Choice and Welfare 2008 30 2 285-303. 12 2002 4 13. 2004 1 14 2003 11 15 2006 3 16 2010 10 17 2011 5 18 2011 1
19 2010 3 20 436 2007 Simulation ofenterprise Annuity Narrowing Pension Inequality Between Employees in Enterprises and Public Institutions based on Salary Heterogeneity GUO Lei SU Taoyong Abstract The paper introduced the effect of salary inequality on employees contribution to enterprise annuity and measured to what extent enterprise annuity narrows pension inequality between employees in enterprises and public institutions with simulation. First the paper constructed the forecast model of enterprise annuity fund public pension and public institutions pension and measurement index of pension inequality. Second the paper simulated the basic situation and 4 situations of tax preferential treatment increasing enterprise income tax exemption cap for employers contribution decreasing personal income tax on employers contribution into personal account decreasing personal income tax on employees enterprise annuity benefits exemption on personal contribution and analyzed sensitivity. The simulation shows that enterprise annuity and the tax preferential treatment will narrow the pension inequality between employees in enterprises and public institutions and increasing enterprise income tax exemption cap for employers contribution makes the most. Enterprise annuity fund investment return increasing enterprise annuity fund management fee decreasing remaining lifetime decreasing social average salary growth rate increasing and working time increasing will enlarge the narrowing effect and vice versa. High salary employees get more from enterprise annuity which will widen the pension inequality employees in enterprises. Key words pension inequality salary heterogeneity simulation enterprise annuity tax preferential treatment Z 61