認(rèn)識(shí)替代率課件Definitionandpresentation

定義Theold-agepensionreplacementratemeasureshoweffectivelyapensionsystemprovidesaretirementincometoreplaceearnings.

養(yǎng)老金替代率用以衡量養(yǎng)老金體系所提供的退休后收入在多大程度上能夠替代工資收入。Thegrossreplacementrateisdefinedasgrosspensionentitlementdividedbygrosspre-retirementearnings.

總替代率是總養(yǎng)老金待遇與總退休前收入的比值。Whatisareplacementrate?

什么是替代率Thereplacementratecanbeexpressedas替代率可以以下方式呈現(xiàn)theratioofthepensiontofinalearnings：養(yǎng)老金與最終工資收入的比例orastheshareofindividuallifetimeearnings(revaluedinlinewithearningsgrowth)：個(gè)人終生收入的一部分（根據(jù)工資收入增長(zhǎng)重新估算）UnderOECDassumptionsofworkersearningsamelevelofearningsthroughouttheircareerthesearethesame.

根據(jù)OECD假設(shè)，勞工收入水平在其職業(yè)生涯中維持不變，則以上二者相同Howisitpresented?呈現(xiàn)方式？Backgroundinformationandassumptions

背景及假設(shè)Atwhatagedoesthecareerbegin?

職業(yè)生涯從何年齡段起計(jì)算？Atwhatlevelofearnings?

工資收入水平？Whatisthelong-termassumptionforinflationandwagegrowth?

通貨膨脹及工資增長(zhǎng)的長(zhǎng)期走勢(shì)？Howwilltherateofreturnvaryovertime?

不同時(shí)期投資收益率的變化？possiblybasedoninvestmentrules

可能基于投資規(guī)則Manyassumptionshavetomade

理論預(yù)設(shè)Entryatage20andworkforafullcareer

20歲起進(jìn)入勞動(dòng)力市場(chǎng)，就業(yè)至退休Primarilyreportat50%,100%and150%ofaverageearnings

主要衡量平均工資水平的50%，100%，150%Inflationassumedat2.0%

假設(shè)通貨膨脹水平為2.0%Realwagegrowthassumedat1.25%

工資實(shí)際增長(zhǎng)率為1.25%Rateofreturnsetat3%

投資回報(bào)率為3%WhatdoestheOECDassume?

OECD的相關(guān)假設(shè)Eligibilityrulesformandatorypensionschemes

基本養(yǎng)老金計(jì)劃的資格條件Ratesandceilingsofcontributions

繳費(fèi)費(fèi)率及上限Accrualrates

積累率Valueofbasicormeans-testedpensions

基本養(yǎng)老金、入息審查養(yǎng)老金數(shù)額Minimumormaximumpensionlevels

最低、最高養(yǎng)老金水平Valorisationofearnings

工資收入增值Indexationrulesofbenefits

待遇指數(shù)化規(guī)則Whatisneededforthecalculation

替代率計(jì)算所需信息Ageatwhicheligibleforafullpensionwithoutreductionbecauseofearlyretirement,assumingcareerstartedatage20withcontinuouscontribution

假設(shè)職業(yè)生涯始于20周歲并連續(xù)繳費(fèi)，可獲得全額養(yǎng)老金的年齡Forexample,long-termretirementageisassumedas65inbothGermanyandSpainratherthanage67.

例如，德國(guó)、西班牙長(zhǎng)期退休年齡均為65周歲，而非67周歲Alsoneedtodefinetheretirementage

定義退休年齡Howtocalculatereplacementrates

替代率計(jì)算

Statutoryschemes法定計(jì)劃Minimumpensionprovision

最低養(yǎng)老金供給水平Meanstestedbenefitsforpensioners

退休人員入息審查待遇Universalflatratelinkedtoresidencyortosocialinsurancecontributions

居住地、社保繳費(fèi)相關(guān)的統(tǒng)一費(fèi)率EarningsrelatedPAYG(withorwithoutreservefund)

收入水平相關(guān)的即收即付Earningsrelated,totallyfunded(bysocialcontributions)–fundedtierofgeneralstatutoryschemes.Partlyfundedschemes.

收入水平相關(guān)全額發(fā)放基本養(yǎng)老計(jì)劃。部分給付的養(yǎng)老計(jì)劃。Whatisincluded(1)包含：Occupationalschemes職業(yè)計(jì)劃Mandatoryforemployer(sectoralorcross-sectoral)orresultingfromcollectiveagreement(whichmakesmembershipmandatory)

雇主義務(wù)性參與，共同協(xié)商（成員身份義務(wù)性）Resultingfromcollectiveagreement(membershipnotmandatorybutcoverageiswide)

共同協(xié)商參與（成員身份非義務(wù)性，但覆蓋率廣泛）Possibilitytosubscribetopensionschemethroughone’semployer

可通過(guò)雇主參與養(yǎng)老金計(jì)劃Whatisincluded(2)Individualschemes個(gè)人計(jì)劃Voluntaryindividualschemes(noemploymentlinkisnecessarytobecomemember),thatcanbeadheredcollectively(forinstancethroughassociationsorUnions)

個(gè)人自愿性計(jì)劃（參與無(wú)需雇傭關(guān)系），可集體參與（如通過(guò)協(xié)會(huì)或工會(huì)）Individualcontractswithpensionfunds,lifeinsurancecompaniesorpensionsavingsinstitutionsthatdeliverannuities

個(gè)人合同，與養(yǎng)老基金、人壽保險(xiǎn)公司或提供年金的養(yǎng)老儲(chǔ)蓄機(jī)構(gòu)Whatisincluded(3)Definedbenefitpension待遇固定養(yǎng)老金Eachyearofcontributiongetsanaccrualrateorpoints

每年繳費(fèi)有固定積累率Summedatretirement,subjecttoanymaximumlevels

退休時(shí)結(jié)算，但受最高水平限制Multipliedbyearningsbase乘以收入基數(shù)Canbefinalsalary可以是最終薪酬Final5,10,15,20,25yearsetc.最后5、10、15、20、25年工資Lifetimeaverage終生收入平均水平Upratedwithwagesorprices隨工資、價(jià)格水平上調(diào)Approachdependsonsystemdesign

具體方式取決于養(yǎng)老體系設(shè)置Definedcontribution繳費(fèi)固定型Contributionsaretakeneachyear

繳費(fèi)每年交納Continuetogrowthroughoutthecareerattherateofreturn

就業(yè)期間依據(jù)投資回報(bào)率水平增長(zhǎng)Totalcontributionsaresummedatpointofretirement

退休時(shí)結(jié)算繳費(fèi)總額Annuitisedtoobtainanannualpaymentamountforcomparison

年金化以得出年度給付金額以供比較Basicpension基本養(yǎng)老金Normallydependentonperiodsofresidence

通常取決于居住時(shí)限Indexedaccordingtolegislation

根據(jù)相關(guān)法律指數(shù)化Minimumpension最低養(yǎng)老金Eitherschemespecificoroverall

具體計(jì)劃或總體Generalappliestoshortcareersorlowearners

通常適用于就業(yè)時(shí)間過(guò)短或工資水平過(guò)低的情況Resource-tested/Means-tested來(lái)源審查、入息審查Canactasatop-uptoensureincomereachesacertainlevel,or

作為補(bǔ)助以保證收入達(dá)到一定水平Cannotionallybepaidtoeveryoneataparticularageandthenwithdrawndependingonotherincome

可名義地給付達(dá)到年齡的個(gè)人，并根據(jù)其他收入水平收回Beginwithbasicpensionsatflatrate

從統(tǒng)一費(fèi)率的基本養(yǎng)老金開(kāi)始Addearnings-relatedschemes,whetherDBorDC,incorporatingtheminimumlevelifapplicable.

加上收入相關(guān)計(jì)劃，待遇固定或繳費(fèi)固定，在適用情況下適用最低水平Testforeligibilitytomeans-testedbenefitsandapplyifnecessary

免息待遇資格審查Dividebyearningstoobtainreplacementrate

除以收入，得到替代率Theordermatters順序很重要

Wageincomefullyearbeforeretirement

退休前全年工資收入Pensionincomefullyearafterretirement

退休后全年養(yǎng)老金收入Compensationperemployee

雇員補(bǔ)貼A

Employercontributiontothe雇主繳費(fèi)

firstpillarpensionscheme(B1),

第一支柱totheotherpensionschemes(B2)

其他養(yǎng)老金計(jì)劃andotheremployer‘ssocialcontributions(B3).其他社會(huì)貢獻(xiàn)B1B2B3Grossearnings(C=A-B1-B2-B3)總收入CPensionincomefrom

養(yǎng)老金收入firstpillarpensionschemes–J1,

第一支柱ofwhichPAYG(J1A)即收即付ofwhichfunded(J1B)養(yǎng)老基金andfromotherpensionschemes-J2其他養(yǎng)老金計(jì)劃

J1A+J1B=J1J2Totalpensionincome(J=J1+J2)總養(yǎng)老金收入J1stpillar(statutorypensions)grossreplacementrate-G1,(ofwhichPAYG-G1A=J1A/Cofwhichfundedschemes-G1B=J1B/C)

第一支柱（法定養(yǎng)老金）總替代率G1=J1/C

(G1A=J1A/CG1B=J1B/C)Otherpensionschemesgrossreplacementrate–G2

其他養(yǎng)老金計(jì)劃總替代率G2=J2/CTotalGrossreplacementrate整體替代率(G=G1+G2)G=J/CCalculation計(jì)算Grossornet?

總量或?qū)嶋H量Grossreplacementratetakesgrosspensiondividedbygrosssalary

總替代率為總養(yǎng)老金除以總薪資Netreplacementrateappliestheapplicabletaxationandsocialsecuritycontributionrulestobothpensionandearnings

實(shí)際替代率包含相關(guān)稅收和社保繳費(fèi)方案Mostcountrieshavelowersocialsecuritycontributionsforpensioners

大多數(shù)國(guó)家對(duì)退休人員采取較低的社保繳費(fèi)標(biāo)準(zhǔn)Taxrulesalsodifferthroughhigherthresholdsorpossibleexemption

稅收上適用較高的起征點(diǎn)或其他免稅方案Whatisthedifference?區(qū)別？Significantlychangesacountriesrankingifnotaxorsocialsecuritycontributionsarepaidinretirement

退休后交納稅收、社保對(duì)國(guó)家排名狀況影響明顯Asworkercontributionsarenormallydeductedatsourceismoremeaningfultoindividuals

工資給付時(shí)代扣繳費(fèi)對(duì)個(gè)人來(lái)說(shuō)更實(shí)際Doesitmatter?重要性

Wageincomefullyearbeforeretirement

退休前全年工資收入Pensionincomefullyearafterretirement

退休后全年養(yǎng)老金收入Employeeandpensionercontributionstopensionschemes:

職工、退休人員養(yǎng)老計(jì)劃繳費(fèi)

K1firstpillar-D1,第一支柱D1

otherpensionschemes-D2,其他養(yǎng)老計(jì)劃D2K2

Socialinsurancecontributionsotherthanforpensionschemes養(yǎng)老金外社保繳費(fèi)FMTaxes稅務(wù)GNMeans-testedbenefits免息待遇

ONetwageandpensionincome實(shí)際工資、養(yǎng)老金收入IP(I=C-D1-D2-F-G)(P=J-K1-K2-M-N+O)TotalNetreplacementrate(N=P/I)整體實(shí)際替代率N=P/IGoingfromgrosstonet總替代率到實(shí)際替代率Whatthereplacementratescantellyou

如何解讀替代率Replacementratesaregenerallyhigherforlowerearners

在工資水平低的情況下，替代率通常較高Possiblerelianceonsafety-netbenefitsorminimumpensions

可能對(duì)兜底待遇、最低養(yǎng)老金產(chǎn)生依賴(lài)Basicflatratebenefitrepresentsahigherproportionofearnings

基本統(tǒng)一費(fèi)率待遇占工資收入比重較大Anelementofredistributionwithinthepensionsystem

養(yǎng)老金體系內(nèi)部的再分配因素Importanttolookatdifferentearningslevels需要關(guān)注不同的工資水平Anddeclineasearningsincrease

隨收入水平提高而降低Ceilingtocontributions繳費(fèi)封頂Maximumpension最高養(yǎng)老金B(yǎng)asicpensionislessimportant最低養(yǎng)老金不那么重要Withdrawalofresource-testedbenefits來(lái)源審查待遇撤除Netreplace