[China Life Chairman: proposal to raise the ceiling of individual pension contributions is too small for middle-and high-income groups] Bai Tao, chairman of China Life Insurance, suggested raising the upper limit of individual pension contributions. "the limit of 12000 yuan for personal pension contributions is too small for middle-and high-income groups." He also suggested that low-income groups should be exempt from tax when they receive personal pensions. "for low-and middle-income people, they don't have to pay tax when they don't set up a personal pension account, but they have to pay 3% tax when they set up a personal pension account," he said. "for them, there is a 'crowding out effect'. Can they be tax-free when they can get it?" (Zhongxin longitude and latitude)