Research On The Reform Of Chinese Flexible Retirement From The Perspective Of Human Capital

Retirement is an important research area of Labor Economics, and also the product of the modern mode of production. As the development of social economies and the change of population structure of different countries around the world, population aging is aggravating, retirement system reform has became the focus of academic debate and the world increasingly concerned issues.In recent years, many developed countries have implemented with varying methods of flexible retirement policy, and achieved preliminary success, which effectively alleviates the domestic pressure, and plays an exemplary role for other countries.In China, retirement system design still follows the old one of last century. With the change of social structure, the evolution of population structure and the innovation of industrial structure in china, after more than half a century of practice, this system has exposed many disadvantages incompatible with contemporary economic and social development, and its stiffness and hysteresis severely hampered the sustainable development of the social security system, and caused great fiscal gap and human resource’s waste, the call for retirement system reform, especially delayed retirement is rising.The thesis believes that the reform of the retirement system is not an independent decision, but a multi-dynamic game process corresponding with other systems. At the same time, the essence of the reform is people-oriented, especially in China with abundant human resources, more emphasis should be laid on the importance role of human capital.Therefore, from the perspective of human capital, this thesis combines theoretical research and normative research and takes quantitative and qualitative analysis method, and analyzes the role of human capital in the retirement system reform, and the influence of delay retirement on the human capital in our country. Then, it draws lessons from the experience of the flexible retirement system in other countries and the retirement reform in Shanghai, and analyses the influence of delay retirement. Meanwhile, through empirical data, it analyses the possibility of delay retirement from the perspectives of individuals and enterprises. And it concludes that the reform is a dynamic adjustment gaming process of country, enterprise and individual. Finally, the thesis puts forward reasonable opinions to the installation of flexible retirement system.This thesis covers seven parts:The first part, introduction. It gives a brief introduction of background, topic’s significance, relevant researches of domestic and foreign scholars, research methods and innovations.The second part, the thesis expounds the development of China retirement system and the existing retirement system, and analyzes the drawbacks of current system and possible troubles of reform.The third part, the theoretical basis of the installation of flexible retirement system. From the perspective of labor economics, the thesis makes theoretical analysis of Human Capital Theory, Overlapping Generations Theory, Social Justice Theory and Labor Market Segmentation Theory.The fourth part, the theoretical analysis of the installation of flexible retirement system. It analyzes the influence of delay retirement in the views of human capital. First of all, the influence factors of human capital. Secondly, delay retirement affect on human capital from the quality and quantity respectively.The fifth part, the realistic significance of the installation of flexibly retirement system. First it introduces the successful experience of other countries in the implementation of flexible retirement reform and the enlightenment to our country, here it mainly selects a few countries:the United States, France, Japan, Germany, Sweden and the UK.Then it gives out the example of Shanghai’s first trial of flexibly retirement, and concludes its realistic significance and further enlightenment of reform.The sixth part, the empirical analysis of the installation of flexible retirement system. From the perspective of individual and enterprise respectively, it consulates the optimal retirement age under different conditions and the corresponding wage adjustment of enterprise with practical data, and sums up that delay retirement is a dynamic adjustment gaming process of country, enterprise and individual. The seventh part, recommendations for policy of the installation of flexible retirement system. Basing on the principle of proper advancing,. individual treatments, fair and efficiency, and dynamic adjustment, the thesis puts forward feasible and reasonable policy recommendations for flexible retirement reform:first, making a strictly inhibition of abnormal early retirement. Secondly, establishing and improving the market-oriented employment mechanism. Thirdly, achieving the flexibility pension payments, and establishing incentive mechanism. Fourth, reforming relevant system to guarantee the implementation’s feasibility and effectiveness of flexible retirement. 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