Reasonableness Analysis To Extend The Retirement Age

In this paper, extending the retirement age has been always the focus and the hot spot betweenTwo Sessions and the public over the years, as an important indicator of the welfare system, as theeconomic system of a country or region, as a population management policy and an important partof the pension insurance system, in which the retirement age as the important variables of theretirement system is self-evident. In the mid-20th century, the State Council issued labor insuranceregulations and specified retirement age that male workers retire at60years old and female workersat50years old from The premise that the average life expectancy of the Chinese population of50-year-old in1951; the "Interim Measures on the staff of state organs retirement" issued in1955put the female cadres retirement age postponed at55years old. Today, this statutory retirement agehas been used. Then modifying the retirement age under special circumstances: proved thatcompletely incapacitated by the hospital (enterprise workers need labor appraisal committeeconfirmed) and the consecutive years of service workers at least10years,50years old for men and45years old for women before retirement; early retirement also includes special trades (toxic andharmful physical health jobs) work or engaged in high-altitude, underground, high temperature,especially heavy manual labor, and must be at least55years of age male workers, female workersat least45years of age; according to the needs of the work some of the senior intellectuals of theelite, in the case of physical health could delay5to10years of retirement with their consent and theapproval of the competent department at a higher level. With the economic development and theimprovement of the living standards of medical standards, China’s per capita life extension of50years of age in the early1950s extend to73.8years old, while the statutory retirement age was notextended. Moreover, the promoting of the family planning,the accelerated aging of the Chinesepopulation, the increasing attention to human rights issues, the increase in investment in education,the extension of the time of getting education and other factors indirectly affect the length of theretirement age. This article premised from the perspective of human capital through a detailedanalysis of the stock of human capital, the quality of human capital, infer the retirement age toaffect all aspects of human resources and give the way to solve these problems. Pension burden,pension funds payment imbalances, the sustainable development of human resources should besolved through legislation to forecast for reasonable adjustments to the retirement age.To postpone the retirement age is fine and very important adjustment variables for theeconomic and social aspects and, a part of "affect the situation as a whole". Considering postponingthe retirement age, we must have rigorous attitude to deal with the several extremely importantproblems: Firs of all, the population imbalance led by the industry and the geographical whichcaused by the uneven economic and social development requires more flexible retirement system.Secondly, the duration of the investment in human capital and the different needs of the elderlyforce capital choices require elderly human capital reformed to developed and managed. Thirdly,the way of increasing the stock of human capital fundamentally, improving the quality of humancapital, increasing investment in human capital, needs optimizing the labor market, and promotingthe sustainable reproduction of the population. Fourthly, with the development and progress of time,it must be admitted that female human capital is increasingly important, with strongly strengthenthe attention and management of female human capital. Finally, the premise of extending theretirement age is that the perfection of the legal, which involves legislation or change the law.Supporting system, establishing and improving the human capital to accelerate the legislativeprocess, that is an urgent problem.