What Is Deferred Retirement?

Delayed retirement ^[1] is the delayed retirement age, which refers to a system in which the country gradually considers the changes in China's population structure and employment conditions in conjunction with policies abroad that some countries have discussed or have decided to increase the retirement age. . In June 2013, due to multiple reasons such as employment pressure, the Ministry of Human Resources and Social Security has shelved the idea of postponing retirement, starting with research and conducting academic discussions. By November 2013, the Third Plenary Session of the Eighteenth Central Committee of the Communist Party of China on November 12, 2013 adopted the "Central Central Committee's Decision on Several Major Issues Concerning Comprehensively Deepening Reform", which stated that: Research and formulate a progressive retirement age policy. ^{[1] It is} clear that in the top-level design, the delayed retirement policy is progressive.

Delay retirement

Why delay retirement? because

Netizens question

In the U.S., employees who postpone retirement until age 70 can get 40% more

Looking at the changes in the laws and policies of retirement ages by governments around the world, combined with China's actual national conditions, at least the following points can be drawn:

First, gradually increasing the statutory retirement age for men and women is an international trend. However, from the perspective of international comparison, by 2013, the necessity of increasing the statutory retirement age for men in China is not too obvious, and it is necessary to increase the statutory retirement age for women. Sex is more obvious. When the average retirement age of women is low, at the appropriate time, the women's retirement age will be unified to 55.

Secondly, as the population ages further, it is necessary to comprehensively start to increase the legal retirement age in order to alleviate the pressure of insufficient labor and pensions in the future, increase the total economic population, and provide necessary population resources for economic development. At the same time, it can also reduce the national financial and social burden. After women reach 55, consideration can be given to increasing the retirement age for both men and women, up to 2013 when men and women raised their retirement age targets to 65 and 60.

Third, a reasonable increase in the retirement age requires various preparations, especially when it is started, and consideration must be given to funds, system dependency ratios, relevant laws, and social acceptance. ^[11]

Looking at the changes in the laws and policies of retirement ages of governments around the world, we can see that gradually increasing the legal retirement age of men and women is an international trend, which is of great significance for coping with the aging of the population, increasing the total economic population and promoting economic development. At the same time, a reasonable increase in retirement age requires various preparations, especially the timing and speed of advancement, and consideration of relevant legal systems and social acceptance. To evaluate different retirement plans, actuarial forecasting of relevant data such as system operation, fund revenue and expenditure, and labor force changes will be required in combination with actual data.

The "11th Five-Year Plan" for the development of labor and social security undertakings in 2006 clearly stated that the gap between the basic pension level of enterprise retirees and the level of retirement expenses of government agencies and institutions has become a factor affecting social stability. It is necessary to "narrow the gap between the pension level of enterprise retirees and the level of retirement expenses of retirees in institutions and institutions; promote the reform of the pension insurance system of institutions and institutions and achieve a reasonable connection between the institutions, institutions and enterprise pension insurance systems." Five important tasks during the period.
The 2007 State Council executive meeting pointed out that the treatment of enterprise retirees must be properly addressed so that they can spend their old age in peace.
During the National Two Sessions in March 2011: The dual-track system of retirement is unreasonable and needs to be resolved.
Spokesperson of the Ministry of Human Resources and Social Security in 2012

1. Do men and women retire at the same age or still distinguish?

In addition to the delays of several months each year, there is also a point of retirement age and whether to continue the current framework of different retirement ages for men and women. At present, men and women in our country have different retirement ages.

If men and women have the same retirement age, should they be delayed uniformly to 60 or 65? If it is extended to 60 years, it is really only a delay for the retirement age of female and male workers. And if the synchronization is delayed to 65 years, for women, especially female workers, the span is still large, and there will be many affected people. If men and women are still retiring at different ages, it is worth paying attention to whether this interval is still five years old.

2. Will delaying retirement affect pensions?

The future income and expenditure balance of the pension insurance fund is indeed facing tremendous pressure. Moreover, since the enterprise employee endowment insurance is coordinated at the provincial level, there is an imbalance between regions. But it is very clear that the overall operation of pension insurance is stable at present, "everyone's pension is guaranteed." Whether it is the endowment insurance for enterprise employees or the endowment insurance for urban and rural residents, the income is greater than the expenditure, not only ensuring the payment of benefits, but also a slight balance.

3. Will pension benefits be reduced?

With regard to delayed retirement, the current focus of public attention is also on pension benefits.

Financial subsidies are an important aspect of the current funding channels for pension funds. For a few old industrial base provinces with historical debts and weak fund payment capacity, the central government will continue to increase financial subsidies. In addition, the communique of the Fifth Plenary Session of the Eighteenth Central Committee of the Communist Party of China mentioned that to strengthen state-owned capital to enrich social security funds, pensions should be guaranteed.

4. How can pensions enter the market to be safe?

When pensions enter the market and diversified and specialized investments are made, some netizens are worried. "This way the risk will become greater. What should I do if I lose?"

Li Zhong, a spokesman for the Ministry of Human Resources and Social Security, said that the pension insurance fund is the life support money of the masses, and ensuring the absolute security of pensions is always the first issue to consider.

First of all, the state implements strict supervision of various social insurance funds. Social insurance funds are deposited in special fiscal accounts, and revenue and expenditure are managed on two lines. Special funds are used exclusively. No organization or individual may embezzle and misappropriate.

Secondly, for investment behavior, comprehensive supervision will also be carried out in terms of management institutions, asset allocation strategies, and information disclosure systems.

5. I retired early, can I get a pension?

Retirement and receiving pensions are two concepts. In the future, the timing of retirement is flexible. It is an interval. In this interval, the individual's will must be respected. After the two parties have agreed to agree, they can leave the job with a flexible delay. The government only requires one Boundaries, do not participate in age division. For example, some people are tired and want to retire at the age of 40. It is just that there is no way to receive a pension. They can only receive it when they reach the age. Therefore, when to retire is a problem, and when to receive a pension is another problem. ^[14]