Abstract: On the basis of constructing an actuarial model for tax saving benefits, a comprehensive financial and tax support scheme for personal pension is proposed based on the concept of negative income tax, which is combined with fiscal subsidy policies. Under fairness conditions, this paper calculates the payment subsidy ratio and total financial and tax support for different income groups. The findings show that when the payment amount is the same, tax savings increase with the increase of individual income tax levels; at the same level of personal income tax, tax savings increase with the increase of payment amount. Under the condition of fairness, the proportion of financial subsidies for individual contributions ranges from 15% to 45%, and the proportion of contribution subsidies to the total financial and tax support ranges from 22% to 65%. Therefore, it is necessary to combine the personal pension tax deferred preferential policy with the differentiated financial contribution subsidy policies, improve the capital market infrastructure system that is suitable for long-term investments such as personal pensions, moderately increase the upper limit of payment amount according to the level of economic development, strengthen the publicity and promotion of personal pension funds and financial services, steadily and orderly promote the gradual reform of delaying the statutory retirement age, and optimize the mechanism for emergency withdrawal of benefits.

Key words: personal pension, tax saving income, fiscal subsidy, actuarial model