Expioration On The Issue Of Retirement From The Perspective Of Pension Insurance Repiacementrate

Along with the problem of population. aging, the imbalance of public pension plan is becoming more and more serious. In order to ease the pressure on pension payments, the state has taken a series of measures. For example, we officially abolished the dual system of pensions since October 1,2014. At the same time, although the reform of the pension insurance is gradually improved, the replacement rate of pension insurance in China has declined year by year. Therefor people gradually transfer to the view on the problem of delayed retirement. Whether to delay retirement or not and how to do it has become an important issue in the relationship between people’s livelihood in recent years. In such background, this paper will focus on the study of the delayed retirement age. At present, the research on the issue of delay retirement is mainly based on qualitative research and discusses the significance of delayed retirement. In this paper, I will explore the relationship between the replacement rate of pension insurance and the delayed retirement by establishing the replacement rate model. I will analyze the necessity of delayed retirement by quantitative analysis, and through the comparison of foreign delayed retirement process I will provide the corresponding policy recommendations for the reform of China’s delayed retirement age.This paper is divided into seven parts.The first part is the introduction, which briefly introduces the background and significance of the paper, and analyzes the innovation and the existing problems of this paper.The second part is the literature review. This paper introduces the domestic and foreign research status of the pension insurance system and the delay retirement, and finds that the research on the relationship between this two is more qualitative than quantitative.The third part of the article simply introduces the reform of China’s pension insurance system and the status quo, as well as China’s current retirement system, so as to analyze the existing problems of our country’s retirement system, that is, the retirement age is low, the retirement age is not consistent.In the fourth part, the paper introduces the historical experience of the United States, France, Germany, Britain, Sweden, Japan and other countries, and provides the corresponding experience and lessons for the implementation of delayed retirement policy in China.In the fifth part, the paper set up the basic pension replacement rate model and the individual account pension replacement rate model. And I introduce the variable of the retirement age to analyze the influence of the age of retirement age on the pension replacement rate.The sixth part is the numerical analysis. The research object of this paper is the female worker, and I will research on the problem of the delayed retirement age for female workers in our country. By designing parameters, carrying on the numerical simulation, I will make an empirical study of the pension replacement rate model. The model specification and empirical research found that along with the delaying of retirement age, the basic pension replacement rate and individual account pension replacement rate is continuously increasing; delay the retirement age is more favorable for low levels of income; individual account pension replacement rate is also related to the proportion of personal account fund and the investment return rate of the individual account fund.The seventh part is conclusions and policy recommendations. This thesis comes to the conclusion that delay retirement age is beneficial to improve the pension insurance substitution rate, making people improve the level of life after retirement. In order to improve the pension insurance substitution rate, we should not only delay the retirement age, but also improve the proportion of personal account and the investment return rate of individual account fund. Then, combined with the experience of the reform of delayed retirement age and the conclusion of this paper, I think that we should be appropriately delayed retirement age, and put forward the corresponding policy recommendations for the reform of the delayed retirement.