Overview of Retirement Pension

Win-win partnership between employers and employees – Retirement pension plan
A retirement pension plan is a developed country-type retirement system.

Enhancing financial soundness

Since the external reserve of retirement pension is fully deductible, companies can reduce their corporate taxes and debt ratio and improve their financial soundness.

Category Internal reserve Retirement pension plan
Defined Benefit Retirement Pension(DB) Defined Contribution Retirement Pension(DC) Business-type IRP
Limitation of deductible value 5% of retirement benefit liability 100% of reserve(Within the retirement benefit liability) 100% of reserve 100% of reserve
Investment profits Taxation Tax-free Tax-free Tax-free
Retirement benefits payment Lump sum(retirement income tax) Lump sum(retirement income tax) or Pension (pension income tax) Lump sum(retirement income tax) or Pension (pension income tax) Lump sum(retirement income tax) or Pension (pension income tax)
  • Tax benefits for expenses on internal reserve decreases gradually : 15% of retirement benefit liability(2013) →10% of retirement benefit liability(2014) →5% of retirement benefit liability(2015) →none

Boosting employees' morale

The plan can effectively support employees’ later life design, boost their morale, and thus stabilize employment and employee-employer relationships.
Also, the plan makes it easy to implement the salary peak system and annual salary system, makes HR management flexible and thus stabilizes management.

Stabilizing management

Companies can regularly pay retirement pension contribution, distribute the burden of paying retirement benefits, and prepare for the payment, which boost the predictability of managing fund. Furthermore, companies can enhance their corporate welfare, enhance their corporate image, and secure talented HR.

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2019/04/25 18:50:59
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