Research On Pension And Optimal Retirement Age Base The Control

With the advent of an aging society, it is especially important setting up ascientific endowment insurance system and reasonable retirement system to ensurethe sustainable and healthy development of social economy. As we all know, thepayment rate replacement rate, and the retirement age are leading indicators forgovernment control on the endowment insurance system. Thus, study on that threedata plays an essential important role on the study of endowment insurance system.The paper studies the optimal contribution rate and optimal replacement rate and theoptimal retirement age on the premise of individual utility maximization with appliedmathematics, expecting enrich both theory and practice.The paper has five chapter: The chapter of the preface mainly introduces thebackground of choosing the thesis, domestic and international study on pensionsystem. Domestic and international scholars’ main ideas points to the fact thatoverlapping generations model (OLG model) is the study of a mainstream method ofpension system. The second chapter is prepare knowledge, mainly introducing thebasic principle and methods of the optimal control theory. Based on overlappinggeneration model, the third chapter set up pension differential model related topersonal salary, savings and consumption in combination with the practical situationof Chinese basic endowment insurance, and Strictly analyses the equilibrium ofpension differential model. Analyses the existence and uniqueness of the optimalcontrol with the optimal control theory; Gets explicit expression of the optimalcontrol according to the principle of maximum value; Gets the empirical simulationcombined with the real data; In the fourth chapter, according to the establisheddifferential model of the endowment insurance, the author on the basis of individualutility maximization, looks for time optimal control of the equilibrium withintroduction time inconsistent preferences in the optimal control problem. And finallygot the optimal retirement age and empirical analysis combined with the actualsituation. The last chapter is conclusion and prospect. In this chapter, the authordiscusses future research directions of Chinese pension with a basis summarizationthe full paper.