Population Aging And Retirement System Change

In recent years, with the speeding of China’s population aging and governmentpension spending increases unceasingly, the problem in the existing retirement systemis increasingly prominent. Due to retirement age provisions of the state determines thelength of service of the workers and the receipts and expenditures of pension, affectsthe national economic competitiveness, distribution and consumption and nationaloutput.As a result, the retirement age problems become the focus of debate for allwalks of society.China’s current retirement system is still the1950s. With the extended of percapita living and population aging process accelerating, the shortcomings of currentretirement system have gradually exposed. Lag of retirement system has become therestriction to realize social justice, relieve pension payment pressure and the normaloperation of the job market. It is necessary to adjust the current retirement system,adopt flexible retirement system to actively respond to the rising levels of populationaging, promote the sustained and healthy development of the economy,This article based on the economic theory related to retirement system,(institutional change theory, alternate theory of life, cycle theory, etc.), analysiscurrent situation and existing problems of the aging population in China, and thechange of retirement system. Through the population aging process, the per capitaextended their education and life expectancy result in problems, such as increasedsocial endowment burden, the human capital waste, reduction working life andincrease retirement time, expounds the problems existing in the existing retirementsystem in our country. This research, based on economic analysis, combinequantitative analysis and qualitative analysis, will provide more important basis anddecision-making thinking for China’s flexible retirement system.Adopt flexible retirement system need a comprehensive system of policy, thispaper comparatively mature experience of rising the retirement age in America andJapan, put forward policy suggestions to promote China’s retirement system evolution.On the premise of strengthening approval process for early retirement, designed apolicy of raising the retirement age by region and industry, eventually make theretirement age for men and women tend to be more consistent.