The Life-Cycle Model with Optimal Retiring Age and Simulation

In this paper, a life-cycle model with retirement is set up to study how an individual chooses the optimal retiring age on account of wage growth rate, longevity and healthy state. It is proved that there exists optimal retiring age under given conditions. The numerical simulations are given to show how wage growth rate, longevity and healthy state affect retiring age.

A Study on the Expected Retirement Age Prediction of 1049 Nurses and the Influencing Factors of Delayed Retirement Intention

The results were analyzed by unconditional logistic regression. The analysis results showed that the positions entered into the regression model (OR = 2.339);the expected retirement age (OR = 3.280);and delayed retirement can better solve the pension problem (OR = 0.553). Retirement can relieve child financial pressure (OR = 0.217), emotional exhaustion (OR = 0.913) and social opportunities (OR = 1.132). The OR of job title, expected retirement age, and social opportunities is greater than 1, and the others are less than 1. Conclusion: The most expected retirement age for nurses is 50 to 55 years old, and they are more inclined to retire early. Factors affecting the willingness to postpone retirement include position and expected retirement age. Postponement of retirement can better solve pension problems. Postponement of retirement can alleviate child financial pressure, social opportunities and emotional exhaustion.

Stabilizing the Mandatory Retirement Age in China

Retirement is a basic right of Chinese citizens. Reasonable determination and appropriate adjustment of the mandatory retirement age should be based on safeguarding the rights of the public, particularly ordi- nary workers, and should be decided by the promise of the state to ＂respect and ensure human rights.＂ With the establishment and improvement of the socialist market economy in China, and particularly since China became an aging society in the new century,

Raising the retirement age:the impact on the individual and actuarial balance for Chinese urban workers’basic pensions

Rapid population ageing and increasing longevity are raising concerns about the sustainability of the basic pension systems in China.Raising the retirement age,as an important way to maintain long-term financial sustainability,has become the main policy choice for China.Some studies show that postponing retirement can solve the financial pressures of pension systems effectively.However,if the pension benefits increase with the pensionable age,this may offset some effects and even have a negative impact on the financial balance.This paper builds cohort models and period actuarial balance models for Chinese urban workers’basic pension system to measure the cohort and period effects of postponing retirement,with the aim of analysing the change in the individual pension net wealth and the long-term actuarial balance of the system with population ageing and increasing life expectancy.The result shows that raising the retirement age,which is linked to life expectancy,will lead to an increase in the pension benefits,individual net pension wealth and then pension fund expenditure.It may benefit the individual and short-term actuarial balance but have a small effect on the long-term actuarial balance of the system.

Is It OK to Defer Women’s Retirement Age?

As has become the norm lately,annual sessions of China’s National People’s Congress (NPC)and the National Committee of the Chinese People’s Political Consultative Conference(CPPCC)coincided with the International Women’s Day.The retirement age for women,which has long been

Asset–liability models and the Chinese basic pension fund

Pillar 1B(individual accounts)of the Chinese basic pension fund(BPF)has suffered from substantial underfunding due to a series of challenges such as rising longevity,conservative investment policies,and the fragmentation of the pension system.Using an asset–liability model(ALM),we investigate the effects of the pre-2015 and post-2015 limits,as well as no limits,on asset allocations.We also investigate the likely effect on investment performance of transferring the pillar 1B funds to the Council of National Social Security Fund(NSSF)and raising the retirement age to 65.We find that an ALM is superior to an assets-only analysis,and removing the limits on investment in domestic assets(but not foreign assets)would be beneficial,as would transferring the assets to the NSSF and raising the retirement age.Finally,the official notional rate on individual accounts should be set at a realistic level.