Research On China's Optimal Retirement Age In The Context Of Population Aging

With the C hina's aging population aggravation,many countries are facing the problem of pension income and expenditure pressure,especially for C hina owned large population.In the face of the shortfall of pension payments,various solutions are proposed by various sectors of society,including: delaying retirement age;Raising the contribution rate of endowment insurance;Reducing pensions for retirees;Increasing the government's financial subsidies;The most appropriate ways is extending the retirement age.Based on this,this paper establishes an O LG model of endowment insurance to calculate the optimal retirement age in C hina for the analysis framework,and puts forward Suggestions for China's postponing retirement age.First in the introduction expounds this article research background and significance and related literature review,providing the basis for the back of the content.Then describe the development of our country basic endowment insurance and retirement system historical evolution,pointing out that the legal and emeritus age of our country present stage is not reasonable from the policy level.Secondly building the pension of our country characteristics of diamond model "TongZhang combination" mode,based on individuals,businesses,governments,and the overall balance of the capital market,and from the perspective of social welfare maximization,to determine the expression of the optimal retirement age,and then examined by numerical simulation under the background of population aging,changes in the life expectancy of influence on the optimal retirement age,and t he optimal under the one child policy changes in the retirement age,due to considering the fairness of the endowment insurance and pension system,so calculate the optimal measure of men and women retirement age.The results finds that increase in life expectancy will extend the optimal retirement age,at the same time,the different birth policy also can cause the optimal retirement age to produce different change trend,this paper compares two foetuses policy and the one-child policy under the direction of the change of the optimal retirement age,under the two-child policy implementation,the lower the rate of population increase makes the optimal retirement age ahead of time,the optimal retirement age under the one-child policy is also the same change direction,In addition,the optimal retirement age under the two-child policy is higher than the one-child policy,in addition,according to the character of the men and women respectively and measure results show that the optimal retirement age for men and women are higher than their respective system of retirement age,and to predict the optimal retirement age men and women will remain slow growth trend in the future.Finally,through the empirical results show that,this article suggests that the current government in the implementation of retirement policy must be to follow relevant principles,create a harmonious social environment,adjusting the mindset of on-the-job workers step by step to avoid the public's resistance.At the same time,When the government makes the retirement age policy,not only should consider the change of C hina's life expectancy,as well as the child policy changes,also consider the fairness of the men and women,in order to maximize the common interests of individuals and nations.