Feasiblity Study On The Proposal Of Delying Retiement Age In China

With the establishment and improvement of China's socialist market economy, all kinds of supporting measures are being perfected. Chinese urban worker retirement system has been implemented for over half a century and offered effective security for the aging people's retirement life. However, laws and regulations on retirement age has not been reformed for years and the early retirement has exerted an influence on the future development of China's economy. Therefore, more and more views on delaying the retirement age are being discussed and debated spiritedly in these years.With the development of economy and society, life expectancy is prolonging and aging population tendency is intensifying, therefore the current retirement age will lead to higher old-age dependency rate and increasing demand for pension. Meanwhile, China's demographic dividend and future work force are decreasing due to the birth control policy carried out since the 1980s. However, Chinese urban worker retirement age has not been adjusted for many years and the current retirement age, especially women's, is generally lower than that of the developed countries, such as Britain, American and German. Hence, adjustment is urgently needed and the appeal of delaying retirement age is getting strong. Most of the scholars expect to increase the number and raise the ratio of work force and lower the old-age dependency rate by delaying retirement age, in order to reduce the pressure on pension payments through endowment insurance system itself.This thesis begins with models of population prediction and then designs various programmes of delaying retirement, trying to prove the feasibility of delaying retirement in China. It applies quantitative analysis method and the indicators expound that the delaying of retirement must be raised into the agenda. The thesis also puts forward the preliminary draft and measures for delaying retirement age.This these consists of five chapters:Chapter One: Definitions and theoretical review of delaying retirement, theory of life cycle, overlapping generation model and mathematical model of the retirement pensions, providing theoretical bases and guidance for future study. Chapter Two: Present situation and problems of retiremen policy, analyzing current retirement system to identify its deficiencies.Chapter Three: Analysis of the necessity of delaying retirement age, proving the necessity mainly from the aspects of population size and aging of population, changes in labor supply and demand, balance of pension payments, closing gender gap and distribution of elderly human resourses.Chapter Four: Analysis of the feasibility of delaying retirement age, including the programme design, effect analysis and the comparison of three programmes of delaying retirement. A large amount of data are applied to prove the feasibility.Chapter Five: Conclusions and policy proposals for delaying retirement age. Conclusions are drawn from the above research, containing flexible retirment age, removal of the gap between women workers and women cardres and adjustment of the difference between men's and women's retirement ages. Responding policy proposals are also put forward.