Postpone The Retirement Age For The Feasibility Study

In 1997, China has been clear about the reform goal pattern of security pension system, which unifies the social overall plan and individual accounts, and has realized the transformation from the traditional pay-as-you-go system to partial accumulations system. However, the aging of the population, the dominant change of hidden debt and the empty operation of individual accounts, have put the traditional public pension protection system into a financial crisis of payments. This gave rise to the discussion in government and theoretical circle about how to increase pension insurance income, fill the gap and maintain the basic insurance pension system.At the same time, the space of corporate pension insurance payment rate narrowing, expanding the pension coverage, which may lead to the hidden dangers of long-term gaps, the reality of early retirement phenomenon seriously and low retirement age for women, made the original tight insurance pension funds worsen. And then, the discussions on the plan to postpone retirement age have been provided the necessary basis for reality.Tightly around pension funds pay gap, and on the basis of domestic and foreign scholars' relevant views, this paper has analyzed the feasibility of the extension of the retirement age in present conditions. Using theoretical knowledge of insurance actuarial, the article has measured effects about how to solve the current shortage of social pooling funds and reduce system maintenance and the payment rate of enterprise, when female's age were increased by one year and a 60-year-old as a starting point ,then male and female's retirement age were raised at the same time. This method was aimed to provide strong theoretical basis for the formulation and implementation of programs by postponing retirement age.The article initially introduced reasons of postponing retirement age in chapter I. And the study of the retirement age at home and abroad was introduced. Taking an overview of domestic and foreign scholars' suggestions, this paper pointed that how to choose the best time for reform, then raise the retirement age is the academic mainstream view point.In view of this, then, Chapter II has begun to enter Chinese current status of the retirement age. Starting with the current condition of china, the article analyzed the necessity of postponing retirement age.With the above background, in chapter III, the article introduced many phenomena, such as the average life expectancy extending, lacking of labor force resources caused by the aging of the population, highly educated crowds' initial work age older and other aspects. These were used to prove the feasibility of postponing retirement age.A quantitative analysis was done in chapter IV. The article measured the impact caused by the delayed retirement, with different combinations of retirement age.The conclusion was made in chapter V. Ultimately, on the basis of analysis, some useful policy recommendations were provided for specific programs. At the same time, the inadequacies of the paper were pointed. In short, I think that fully taking into account the population, society, economic and other factors, the strategy of delaying the statutory retirement age will be sooner or later put on the agenda.The innovation of this paper is that different retirement age combinations were put by practices and in the light of practical set assumptions were made. Firstly, the article viewpoint was demonstrated simply in the qualitative perspective. And then quantitative analyses were achieved. The combinations of two analytical methods, give us an objective, direct awareness, and then come to the feasibility conclusion of the program of postponing retirement age.