Effect Analysis And Countermeasures To Delay Retirement On Youth Employment

Since China’s reform and opening up, the life expectancy gradually increased, and population aged trend was serious, which resulted in implicit pension debt surged. Some scholars suggested that delaying retirement could alleviate the pension payment pressure. Proposed in the Third Plenary Session of the Eighteenth Central Committee of the Party, "gradually delay retirement plan" caused widespread concern. Supporting and opposition to delay retirement focused on the retirement age impacting employment. Through theoretical research, empirical analysis, and combined with the current situation of China’s retirement system, this paper researched effects of retirement age rising for employment, and based on proposed suitable for China’s national conditions and delay retirement strategy, it still analyzed the effects on different groups."The sixth census" showed that the current retirement system had unable to meet the rate of return to human capital requirements. To solve the problem, delaying retirement conformed to be international trend of effective methods. Based on the theory of life cycle hypothesis, it discussed the effects of optimal retirement age and the optimal retirement age is also prolonged. Based on the analysis of the job search theory, it is concluded that the labor market of the elderly has no sense with the unemployment rate, and the delay can increase the employment opportunity. The paper analyzed the factors that affect the actual retirement age, and constructs the regression model. The empirical research showed that the male labor delay retirement is positively related to the employment effect, and female is opposite. The former is higher than the latter. The delayed retirement would not have a negative effect on the employment of young people in the employment market, but also can promote the role of the youth. Based on this, it further studied the delayed retirement effect of labor groups in different industries. Based on the "gradual" retirement strategy, this paper put forward the strategies to protect the interests of different groups and industries.