Research On The Influencing Factors Of The Intention Of Middle-aged And Elderly Employees To Delay Retirement

As a public policy closely related to workers’ personal interests,the implementation and reform of the retirement system has been widely concerned by the public.The current retirement policy for enterprise workers,i.e.,retirement at the age of 60 for men,55 for female cadres and 50 for female workers,follows the relevant provisions of the 1951 Labor Insurance Regulations.At that time,the average life expectancy of China’s population,the degree of aging,the pension insurance fund gap and other socioeconomic conditions were very different from now.To a certain extent,raising the retirement age is a necessary decision to cope with the increasingly serious problem of aging population in China,but the increase of the statutory retirement age not only means that employees have longer years to participate in work and pay pension insurance,but also makes the time to start retirement rest life and receive pensions delayed and the cycle of receiving pensions shortened.Therefore,the change of this policy will certainly have some impact on the rights and interests of workers,and the delayed retirement policy can only be supported by the public and implemented smoothly if it is in line with the retirement wishes of the majority of workers.To judge whether the provisions of the delayed retirement policy are consistent with the choice of workers’ retirement age,it is necessary to clearly analyze the influencing factors of people’s retirement age choice in the current situation,and make appropriate adjustments and changes to them through the improvement of relevant measures to guide workers to make retirement decisions consistent with the delayed retirement policy.Based on the above reasons,this paper takes the 2018 China Health and Pension Tracking Survey as the original data,based on rational choice theory,human capital theory,Maslow’s hierarchy of needs theory and savings life cycle hypothesis,and after preliminary screening,the research subjects are identified as middle-aged and older corporate workers over 40 years old in China,and first conducts descriptive statistical analysis on the data to understand the current delayed retirement of middle-aged and older corporate workers in China We first conducted a descriptive statistical analysis to understand the basic overview of the willingness of middle-aged and older corporate workers to delay retirement in China,and selected four factors among many influencing factors: personal,work,economic and institutional,and analyzed their effects on the willingness of middle-aged and older corporate workers to delay retirement through binary logistic regression.After statistical analysis,it was found that,overall,middle-aged and older corporate workers’ willingness to delay retirement was generally weak,with women’s willingness slightly higher than men’s.After further regression analysis of the four categories of influencing factors,it is concluded that the employees’ education level and wage income have a negative influence on the willingness of middle-aged and elderly enterprise workers to delay retirement,while those in private enterprises,those with high job satisfaction and those who do not participate in basic pension insurance have a stronger willingness to delay retirement.Based on the findings,this paper follows the principles of consensus building,gradual implementation,flexibility and voluntariness,and perfect protection,and suggests that the policy design should take into account the differences of workers at different levels,provide a flexible retirement age range and encourage employees to delay retirement through corresponding incentives,and build a protective environment conducive to the introduction of the delayed retirement program,so that enterprise workers can have a greater sense of fairness,security and belonging in the implementation of the delayed retirement policy.This will provide a sense of fairness,security,and access for workers.