Version 1
: Received: 28 March 2024 / Approved: 28 March 2024 / Online: 29 March 2024 (17:07:53 CET)
How to cite:
Zhao, G.; Zhou, D.; Fu, Y. Study on the Impact of Delayed Retirement on the Sustainability of Basic Pension Insurance Fund for Urban Employees in China. Preprints2024, 2024031797. https://doi.org/10.20944/preprints202403.1797.v1
Zhao, G.; Zhou, D.; Fu, Y. Study on the Impact of Delayed Retirement on the Sustainability of Basic Pension Insurance Fund for Urban Employees in China. Preprints 2024, 2024031797. https://doi.org/10.20944/preprints202403.1797.v1
Zhao, G.; Zhou, D.; Fu, Y. Study on the Impact of Delayed Retirement on the Sustainability of Basic Pension Insurance Fund for Urban Employees in China. Preprints2024, 2024031797. https://doi.org/10.20944/preprints202403.1797.v1
APA Style
Zhao, G., Zhou, D., & Fu, Y. (2024). Study on the Impact of Delayed Retirement on the Sustainability of Basic Pension Insurance Fund for Urban Employees in China. Preprints. https://doi.org/10.20944/preprints202403.1797.v1
Chicago/Turabian Style
Zhao, G., Deyu Zhou and Yunpeng Fu. 2024 "Study on the Impact of Delayed Retirement on the Sustainability of Basic Pension Insurance Fund for Urban Employees in China" Preprints. https://doi.org/10.20944/preprints202403.1797.v1
Abstract
With the aging of China's population, the problem of pension security has become more and more prominent, and whether delayed retirement can effectively alleviate the pension fund gap and ensure the sustainability of the pension fund has become the focus of social concern. This study predicts the income and expenditure of urban workers' basic pension insurance fund from 2021 to 2050 by constructing an actuarial model of pension insurance fund income and expenditure, and simulates the effect of delayed retirement policy. The prediction results show that under the existing system, the basic pension insurance fund for urban workers will have a shortfall for the first time in 2027, and the shortfall will expand year by year. Compared with the non-implementation of delayed retirement policy, the simulation of the implementation of delayed retirementt program delayed the emergence of the fund gap until 2029, and the forecast period of the pension fund gap significantly narrowed, indicating that delayed retirement policy has a certain positive impact on alleviating the pressure of pension payments, but delayed retirementt can not completely eliminate the pension fund gap. In view of this, this paper suggests that a progressive and flexible delayed retirement policy should be introduced as soon as possible to better adapt to the needs of different groups. At the same time, differentiated policies should be formulated for different groups of people and a pension incentive mechanism for delayed retirement should be set up to improve public acceptance of delayed retirement policy. In addition, delayed retirement policy should be combined with other measures, such as lowering the corporate contribution rate and enhancing the value-added capacity of the pension fund, so as to ensure the sustainability of the pension fund.
Keywords
population ageing; pension fund gap; delayed retirement; sustainability
Subject
Social Sciences, Decision Sciences
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
