PostgreSQL sets the default value of the field to the current year

to_char((CURRENT_DATE)::timestamp with time zone, 'yyyy'::text)

to_char((CURRENT_DATE)::timestamp with time zone, 'yyyy-MM-dd'::text)

to_char((CURRENT_DATE)::timestamp with time zone, 'yyyy-MM-dd hh24:MI:ss'::text)

to_char((CURRENT_DATE)::timestamp with time zone, 'yyyy-MM-dd hh:MM:ss'::text)

The image below shows the effect


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