China government will introduce the policy of delayed retirement,which attracts attention of workers and residents,caring about whether it will affect their pension wealth or not.Through constructing the pension wealth actuarial model and calculating,it finds that:After delaying retirement,the pension wealth of workers and residents is still positive;delaying retirement does not necessarily diminish the pension wealth of workers or residents,depending on the degree of delaying retirement and the contribution base of the workers or the level of the payment grade chosen by the residents;the situation that delaying retirement will reduce the pension wealth of workers and residents is contrary to the incentive mechanism of basic old-age insurance which is pay long get more and pay more get more.Suggestions:improving the basic pension payment method by paying more percentage of the basic pension to those contributing longer than a certain period;improving the billing interest rate method of personal account by giving a higher billing rate to those contributing a longer period;delayed retirement policy should be flexible and targeted.
Statistics & Information Tribune
basic old-age insurance
pay long get more
pay more get more