Study On The Willingness Of Low And Middle-income Staff To Delay Retirement And Policy Guarantee System

With the aging of population in China becoming more and more severe,the burden of pension account is further aggravated.The "14th Five-Year Plan" indicated a progressive extension of the statutory retirement age on the premise of “Small-step adjustment,flexible implementation,classified promotion,and overall consideration”principle in order to alleviate China’s pension issues and promoting the long-term and stable development of China’s social security undertakings.However,it should be noted that whether a public policy can achieve the expected goal will be greatly affected by the public’s attitude towards the policy.Therefore,this paper focuses on low and middle-income workers with an annual income of less than120,000,and uses the relevant theories to study their willingness to delay retirement,including Maslow’s hierarchy of needs,expectancy theory,gradual decision theory,human capital theory,and the theory of active aging.Through the analysis of typical case surveys and the 2018 "China Health and Pension Tracking Survey"(hereinafter referred to as "Charles data"),this paper has investigated the low and middle-income workers’ willingness to delay retirement,and has constructed a binary Logistic model to analyze various factors affecting their willingness.Finally,the targeted policy suggestions will be put forward.The main research conclusions are as follows: first,the willingness of middle and low-income workers surveyed to delay retirement is not high.Second,from the perspective of demographic factors,women’s willingness to delay retirement is stronger than men.At the same time,with the increase of age or education level,the willingness to delay retirement will also increase.The workers with rural household registration are more likely to delay retirement.Third,from the perspective of policy guarantee factors,employees who participate in medical security are more likely to delay retirement.Fourth,the influence of family factors and work factors on the willingness of low-income workers to delay retirement is not statistically significant,but family factors have a great influence in the typical survey.In order to ensure the smooth operation of the delay retirement policy implementation,this paper provides the following policy suggestions: First,at the population level,we should strengthen investment in educational capital and reduce the waste of human resources.Second,at the family level,we should perfect the kindergarten service system.Third,at the work level,we will comply with the reform of labor structure and strengthen the employment security of the elderly.Fourth,at the policy guarantee level,it is necessary to strengthen the construction of medical security and old-age security systems.In addition,it is necessary to strengthen the delay retirement policy propaganda and implementation the flexible retirement age system.