Research On The Effects Of Delaying The Retirement Age To The Balance Of Social Collective Fund

In the21st century, the deepening trend of population aging of China constitutes a serious challenge on balance of social pooling pension. Parameter adjustment, which can reduce the gap of old age pension, improve pension payments position and achieve the healthy functioning of the system, has become the consensus of the majority of scholars. And our statutory age of retirement, unreformed for decades, can not been able to meet the basic condition of China. Thus, the retirement age reform is a priority for the parameter adjustment and delaying retirement age has become a trend.Based on predictive analytics on the trend of China’s population and actuarial models of endowment insurance, this article analyzes the future balance of payments position of social pooling pension. At the same time, we make the plan of postpone retirement, drawing on international experience and combining with the basic condition of China, for example, population, employment status and so on. Furthermore, we analyze the impact of the reform program on the fund balance of payments. Finally, based on the research findings, this paper proposes policy recommendations for reference.This topic is analyzed from the following five aspects:The first chapter shows some concepts and is about basis of the relevant theory, for instance, the theory of demographic transition, theory of life cycle, overlapping generation model and mathematical model of the retirement pensions, providing theoretical bases and guidance for the following study.The second chapter is to introduce our country’s current retirement policy and rationality of reform. In this chapter, not only do problems of the current retirement policy be proposed, but also rationality of reform has been illustrated.The third chapter is about the forecast of gap of social pooling fund under the current retirement policy. It predicts demographic structure in the future on the basis of data which come from the sixth national census. Then, we forecast of gap of social pooling fund through combining actuarial models with related parameter settings.The fourth chapter is about the design of delaying the retirement age and its effects to the balance of social collective fund. Considering the influencing factors, like population, employment status and so on, we design three different plans to delay retirement age. Finally, of three to postpone retirement program are compared to the reality of the effect that option one is more desirable. The fifth chapter is about conclusions and policy proposals for delaying retirement age. On the basis of the foregoing summary, we draw a number of important conclusions, and propose policy recommendations for reference.