Research On The Impact Of Delayed Retirement Policy On Economic Growth And Population Welfare

Population aging has become an inevitable social problem in today’s world.On the one hand,it is the embodiment of social progress and development;on the other hand,it also brings a series of problems to individuals,families and society.China officially entered the aging society in 2000.In the past 20 years,the aging process has been gradually accelerated with the increase of life expectancy and the improvement of medical and health conditions.The aging of the population is also gradually showing the characteristics of rapid increase in the absolute number and proportion of the elderly,the reduction of the number of the working population,the increasing burden of intergenerational dependency,the aging of the elderly before they become rich,the low level of education of the elderly and the lagging of old-age services.However,due to the relatively backward development of China’s current retirement policy,the low retirement age,the large difference between men and women and the lack of flexibility and other problems,there is a large room for adjustment of China’s current aging population and retirement policy.So the formulation reasonable delay retirement scheme,scientific assessment delay retirement benefits for economic growth and population,the influence of the policy for the government to provide data support and scientific basis,aging research has certain theoretical value for extension,but also to solve the current pressing reality,maintain the country’s social stability has a realistic significance.This paper mainly adopts the methods of literature induction analysis,comparative analysis,theoretical analysis and numerical simulation analysis,focusing on the policy of postponing retirement,economic growth and population welfare.The research questions are mainly as follows: First,whether postponing retirement can improve the output level and promote China’s sustainable economic growth in the future.Second,whether different types of delayed retirement policies have different effects on the output level,and how to choose the appropriate delayed retirement policies.Third,whether the implementation of the policy of postponing retirement will improve the welfare level of workers and improve their quality of life.Fourth,if the policy of delaying retirement is insufficient,what kind of complementary policy should be adopted to supplement it.Fifthly,whether the combined effect of delayed retirement policy and matching policy can make up for the deficiency caused by the single implementation of delayed retirement policy.Aiming at the above problems,this paper puts the policy of postponing retirement and supporting policies into an analytical framework to analyze the relationship between postponing retirement,economic growth and population welfare.The results are as follows:First of all,through the analysis of the impact of the delayed retirement policy on the output level,this paper proposes that the delayed retirement policy will not change the future development trend of the output level and per capita output level rising first and then falling.The implementation of the delayed retirement policy can change the time point and absolute value of the decline in the level of total output.Compared with the non-implementation of the delayed retirement policy,both the level of total output and the level of per capita output will increase in the future.By comparing different delay retirement policy impact on output and found that in a short instant delay retirement effect is obvious,significantly enhance the level of output and per capita output level,but from the long-term analysis,incremental delay retirement has good effect,can significantly enhance the level of output and per capita output level,and as the delay retirement age,the less time interval,the greater the growth,the future of higher levels of output and per capita output level.In general,the policy of postponing retirement can improve the level of social output and promote sustained economic growth.Secondly,through the analysis of the impact of late retirement on the per capita welfare level of workers,this paper proposes that the implementation of late retirement policy will not change the overall trend of rising welfare.The implementation of the late retirement policy will reduce the per capita welfare level of workers,and the longer the retirement age is,the greater the impact will be on the per capita welfare level of workers,which also explains why the current late retirement policy has been cold for a long time.Based on the analysis results of social production goal and laborers’ selfdevelopment goal,this paper puts forward the "society-laborer" contradiction.Again,Based on the contradiction between "society and labor",in order to ensure the smooth implementation of the delayed retirement policy,this paper further puts forward four complementary policies on the basis of the delayed retirement policy: the basic old-age insurance system reform,change the one child policy,improve the level of human capital investment and improve labor participation rate,several sex of policy and delayed retirement policy were put into the same framework for analysis.Compared with the single use of delayed retirement policy,all the four matching policies can achieve the goal of improving the social total output level.But look from the workers welfare level of per capita,transform the existing old-age insurance system for the fund system of endowment insurance system,improve the human capital investment,improve labor participation rate by implementing delay retirement policy can offset the laborer loss per capita welfare level,and the one child policy reform will make worker welfare level further reduce per capita,the endowment insurance system reform effect is most obvious,is the only can not exceed enforced delay retirement policy under laborer per capita welfare level of compatibility.This paper proposes that in order to ensure the smooth implementation of the policy of postponing retirement,complementary policies should be carried out in an orderly manner,which can promote the growth of output and improve the per capita welfare level of workers.Finally,in order to promote the implementation of the late retirement policy as soon as possible,based on the above numerical simulation and analysis results,this paper puts forward the following suggestions: 1)Formulate a feasible policy of postponing retirement;2)Promote the reform of the old-age insurance system;3)Increase the labor force participation rate,alleviate the aging process of the population;4)Increase the development of cultural endowment,improve the quality of the labor force.This paper also hopes to provide reasonable suggestions to policy-makers in the formulation and implementation of the policy of postponing retirement through this study,so as to solve all kinds of social and economic problems caused by the result of the age of China’s population,and promote the balanced and sustainable development of workers,society and market subjects.