Perfection And The Pros And Cons Of Extend The Statutory Retirement Age Policy

China’s current retirement age as follows: For the party and government organs,public organizations, enterprises, institutions cadres, men over60years of age, womenover55years of age may retire; but for the worker-owned enterprises, institutions andgovernment agencies, mass organizations, men over60years of age, women over50years of age may retire. Workers in particular sectors, to meet certain length of serviceconditions and physical conditions may require early retirement or apply the retirementfor illness. From an international perspective, the most developed countries, theretirement age was set at65years, or even higher.China now is in the stage of aging, population aging will bring a lot of newcontradictions and pressures of economic and social development of new challenges,especially in the establishment of a sound social security system to adapt to therequirements of the socialist market economy, the pension security, health care fieldpressures faced enormous.In this context, we need to have a certain extension of retirement age. In general,under the situation of overall shortage of labor supply, it is meaningful to extend theretirement age to improve labor supply, ease the burden on the social pension. However,the delayed retirement age policy is also a "double-edged sword". The introduction ofthis policy will affect the employment opportunities of young people. In fact, somecountries extend the retirement age in the implementation process, they choose flexibleretirement mode, there are also enhance policy flexibility, reduce the social shockconsiderations. The implementation of the extension of the retirement age policy is agradual process, and comprehensive on many factors, as far as possible to maximize theadvantages and minimize the disadvantages, so as to reflect changes in the value of thispolicy.