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When will the retirement age be extended? Why extend the retirement age?

People living in this need a suitable job to maintain their living standards, and our society needs each of us to work to maintain social stability and development. At that time, people will retire one day. However, due to some social reasons, China has to delay the retirement age. Let's learn about it with Xiaobian today!

When will the retirement age be extended?

When China decides to complete the integration of the pension system in 2018, the identity difference between female cadres and female workers will be abolished, and the female retirement age of employee pension insurance will be uniformly set at 55 years old. At the same time, the retirement will be officially postponed in 2018. On December 2, 2015, the press conference of the green paper on population and labor: report on China's population and labor issues No.16, CO sponsored by the Institute of population and labor economics of the Chinese Academy of Social Sciences and the Social Sciences Literature Publishing House, was held in Beijing. The report suggests that from 2018, the retirement age for women will be delayed by one year every three years and that for men will be delayed by one year every six years until it reaches 65 years at the same time in 2045. The report points out that since the retirement age in China began decades ago, it has become too low. The green paper proposes to gradually postpone the retirement age in accordance with the principles of integration first, gradual implementation and flexible mechanism. In this regard, the green paper puts forward suggestions, and the retirement age reform plan of employee pension insurance is divided into two steps. Step 1: when the pension system was merged in 2017, the identity difference between female cadres and female workers was abolished, and the female retirement age of employee pension insurance was uniformly set at 55. Step 2: from 2018, the retirement age of women will be delayed by 1 year every three years and that of men will be delayed by 1 year every six years until it reaches 65 years at the same time in 2045. The green paper also suggests that we should realize the integration of the pension system and classify the retirement age into two categories: the age at which employees receive old-age insurance and the age at which residents receive old-age insurance. The green paper proposes that the retirement age of residents' old-age insurance will be delayed by one year every three years from 2033 until 2045. At the same time, we should introduce a flexible mechanism into the reform of the retirement age. We can consider taking the legal retirement age as the benchmark and stipulate that people can retire five years in advance or delayed, but the pension treatment is linked to the retirement age.

Why extend the retirement age?

1. Aging may not be a good thing for China's economy, but we should also see that aging will bring corresponding changes in industrial structure. For example, with the arrival of an aging society, the demand for service industry is bound to expand.

2. Fertility and the competitiveness of workers are not a relationship of ebb and flow. The key is to see how the government guides them.

3. A large number of studies show that the conventional work that can be replaced by intelligent machines is mainly concentrated in the middle part of skill distribution.

4. With the improvement of living standards and medical technology, our generation will be healthier and live longer, so it is an inevitable trend to lengthen their career.

5. The limited affordability of the current pension system is the main problem. A fair approach is to link the pension years to the average life expectancy, that is, whenever you retire, you will receive pension support for a specific number of years.