An Actuarial Research On The Impact Of Delaying Retirement On Implicit Debt Of Endowment Insurance In China

China's pension system was founded from the beginning of the 1950s.In 1997,China's pension system had reformed from the pay as you go system to partially funded system.In the process of system transition,there have been some problems,such as empty personal account,which is the cause of transition of China's pension's implicit debt.Moreover,with the aging of population in our country is becoming more and more serious,the implicit debt is increasing year by year,resulting in a great financial burden,and it affects the sustainable development of China's old-age insurance system seriously.This paper first analyzes the causes of implicit debt,and analyzes the significance of the calculation.Secondly,on the basis of fully interpreting the policy documents and drawing on the contents of previous studies,classify the object of China's pension's implicit debt into two parts,"the old" and "the middle".The actuarial model of implicit debt is deduced according to the individual cost method,which lays the theoretical foundation for the calculation of implicit debt scale.At present,China's aging problem is serious.The early retirement age has been completely inconsistent with today's social development trends.To some extent,the delaying retirement policy can effectively alleviate China's pension's implicit debt.The smooth implementation of the delayed retirement policy is closely related to each person's life and the author is also very interested in this policy.On the basis of the combination of China's national conditions,the author designs a scheme of delayed retirement.And the scale of China's implicit debt scale of endowment insurance under the circumstances of no implementation of the postponed retirement policy and it under the circumstances of China's old-age insurance recessive debt scale.With the comparison,the implementation of the postponed retirement policy has good effect on releasing China's implicit debt scale of endowment insurance.Finally,on the basis of fully respecting the results of the paper and the situation of our country,the rationalization proposal has been put forward.