The Study On The Delaying Of Retirement Age Of China

With the increasingly serious trend of aging, Postponing of retirement age has attracted the whole country's attention. Experts have different opinion on this problem. With the consideration of the average life expectancy's prolongation and the balance of endowment insurance fund balance, most experts do agree to delay the retirement age. They believe that the prolongation of retirement age will benefit the enterprises and human resources'utilization. But some experts have the totally opposite opinion. They think that it is not the best time to delay the retirement age. Right now, the government should pay the effort to solve the employment issue. Both of them can't find the most effective way to get the conclusion.While, I think the key to the problem of prolongation of retirement age is to find the essence of the delaying of retirement age what is the obligation and the right of endowment insurance. The obligation of endowment insurance is charging the fee. And the right of endowment insurance is gaining the payment by the endowment fund. Only if the right is equal with the obligation, the retirement age shouldn't be adjusted. If not, the government would better make a few alterations in retirement age.Through quantitative analysis of individual worker's the obligation and the right of endowment, we found that the right of receiving pensions is far outweighing the obligation of endowment insurance payment. Then we get the conclusion that the delaying of retirement age is reasonable. And we should postpone female employee's retirement age more than male employee's retirement.Delayed retirement age needs comprehensive policy recommendations. So we should take it seriously and cautiously. On the basis of controlling unusual early retirement, we'd better catch the best chance to put extend retirement age policy into effect. Right now, the policy maker should catch the chance of Demographic window to postpone the retirement age. A population enters the demographic transition. At the early stage of demographic transition, the total fertility rate substantially falls in sequence of a decline in infant mortality. So the government would better operate the policy in 2015. With the consideration of economic factor, social factor and operative factor, the government must put extend retirement age policy into practice at least in 2030. I suggest that we should delay retirement age quickly and then slowly at a steady rate on the basis of limiting strictly in the illegal early retirement. Because of the physiological difference, various education background and the different role they play in families, the female employees and the male employees don't retire at the same age. While the female employees retire a little earlier this benefits both individuals and families. With the consideration of postponing retirement age, the government must take protect of the working right of which middle age employees and old age employees were infringed until now. Meanwhile, the government should continue to strengthen the investment in health care for the elderly which will lay a solid foundation for the social security.