The Analysis On The Feasibility Of Extending The Retiring Age

At the end of the last century,China entered the ranks of aging countries,with the result that China's population is aging and old-age insurance system for sustainable development have had a serious contradiction,resulting many negative impacts such as a waste of human resources, adding to the pressure of running a pension,labor time is unfair,all of these make a challenge to the existing retirement system.Extending the retirement age is an effective way to alleviate this problem and causing widespread concern in the community.In this paper,we analysis the feasibility of extending the retirement age from a macro-perspective and micro-perspective based on the current status of our retirement age.we will use the PEST analysis in Macro,and analysis extending the retirement age with the SWOT analysis;At the same time,we will use the micro-economics knowledges to proof the relationship within extending the retirement age and the pressure of payment of pensions,as well as the employment rate.And make a result that extending the retirement age can play a role in increasing income and cutting expenditure,ease the pressure of the current pension payment, and extending the retirement age of workers will not necessarily linked in employment and new jobs,and we proof the feasibility of extending the retirement age.At the same time,this paper makes the corresponding proposals of extending the retirement age and makes the corresponding support measures of the possible adverse impacts from extending the retirement age.The recommendations include extending women's retirement age gradually,make sure the same retirement age between men and women,a gradual extension of retirement age,establish a flexible retirement system,the establishment and work experience of the pension incentive payments linked to the mechanism and improve the early retirement policy,use the resources of older persons and create more suitable jobs for the older;support measures including the promotion of stable economic growth and create more jobs,increase training,and expand employment channels,and expand the coverage of the social security system,and promote the protection of the level of reciprocity,establish a sound operational mechanism for old-age insurance funds,spent more resources on the operation and supervision, etc…...