Delayed Retirement Calculation Formula Latest

Gradual delay in retirement age policy

According to the latest news, the "China **** Central Committee on the formulation of the 14th Five-Year Plan for National Economic and Social Development and the two _ three five-year visionary goals of the proposal" (hereinafter referred to as the "proposal") was adopted by the Fifth Plenum of the 19th Central Committee on October 29, which delayed the retirement of the above statement.

The "Recommendations" said, will improve the multi-level social security system. Improve the coverage of all people, urban and rural areas, fair and uniform, sustainable multi-level social security system. Promote the transfer of social security, improve the basic pension, basic medical insurance financing and treatment adjustment mechanism. Realize the national coordination of basic pension insurance, and implement a gradual delay in the statutory retirement age.

Gradual delay in the retirement age time

The Third Plenary Session of the Central Committee has been finalized: an extension of 5 to 10 years.

The proposed program for delayed retirement is:

First, starting from 2015, female workers and residents born in 1965 should delay receiving their pensions for one year, those born in 1966 for two years, and so on, to realize that women will receive their pensions at the age of 65 by 2030.

Secondly, starting in 2020, male workers and residents born in 1960 should delay receiving their pensions for six months good bright book, and so on, to realize that male workers and residents will receive their pensions at the age of 65 by 2030.

Gradual delayed retirement how to calculate

If the implementation of the gradual delayed retirement program began in 2022 (using a 1-year delay of 3 months), and according to China's current employee retirement age of 60 years old for men, 55 years old for female cadres, 50 years old for female workers, you can project the retirement age after the delayed retirement. Specific delayed retirement age formula is as follows:

Female workers retirement age = 50 + 3 × (50 + year of birth - 2021) / 12

Female cadres retirement age = 55 + 3 × (55 + year of birth - 2021) / 12

Male retirement age = 60 + 3 × (60 + year of birth - 2021) / 12

< p>We choose the same female workers, female cadres and men born in 1980 to calculate, then the results are:

Retirement age of female workers born in 1980=50+3×(50+1980-2021)/12=50+3×9/12=52 years old

Retirement age of female cadres born in 1980=55+3×(55+1980- 2021)/12=55+3×14/12=58 years old

Retirement age of men born in 1980=60+3×(60+1980-2021)/12=60+3×19/12=64 years old

Reasons and significance of the policy of gradual delay of the retirement age

1. The trend of population aging is accelerating, the dependency ratio is Decreasing year by year, the social security pension system is overburdened "If the policy of delaying the statutory retirement age is not implemented, the pension insurance dependency ratio (the number of people in the workforce / the number of people retired) will fall from 2.65:1 in 2019 to 1.03:1 in 2050." Recently, the Party's nineteenth session of the Party's Readers Publishing House and the Study Publishing House published a Fifth Plenary Session of the Fifth Plenary Session of the Party's "Recommendations" Study Counseling Hundred Questions (hereinafter referred to as the "Hundred Questions"), made the above response to this issue. China's Youhong has 250 million elderly people over 60 years old, and the dependency ratio of pension insurance has been declining year by year, from five people supporting one person in the 1990s to 2.66 people supporting one person at the end of 2018. The decline in the dependency ratio means that fewer people are contributing money and more people are receiving money, which, if it continues and active countermeasures are not taken, will put pressure on and challenge the sustainable development of pension insurance.

2, the current statutory retirement age "does not adapt" to China's current life expectancy China's current statutory retirement age of 60 years of age for men, 55 years of age for female cadres, female workers 50 years of age, is based on the early years of the founding of New China's per capita life expectancy of less than 50 years of age formulated in 1978, with the average life expectancy of China's per capita of 77.3 years in 2019 is no longer compatible with the life expectancy of the country. years old life expectancy is no longer compatible, affecting both the effective supply of the labor market and the sustainable development of pension insurance. China is currently the world's earliest retirement age, the average retirement age is less than 55 years old, the current retirement age is low, has been incompatible with the current economic and social development. At present, the retirement age of all countries in the world, in addition to some countries in Africa, most countries are at the age of 65, 67 years. In recent years, some countries have delayed the retirement age. For example, the United States and Germany have gradually raised the statutory retirement age from 65 to 67 years old, Japan and South Korea will gradually raise the statutory retirement age from 60 to 65 years old, Australia plans to delay the retirement age to 70 years old in 2029.

What does gradual delayed retirement mean

Gradual delayed retirement refers to a slower but steady approach to gradually extend the retirement age, raising it by about one year every three years. The basic principle of the program is to take small steps and gradually key in to extending the retirement age, while establishing a buffer mechanism before extending the retirement age to minimize the impact of retirement policy adjustments.

While there are different opinions on the issue of delayed retirement, different organizations have put forward different programs, but there is a point is to reach **** knowledge, that is, "to be flexible and not rigid". Timely introduction of flexible retirement policy, do not implement a one-size-fits-all, focusing on the use of economic means to form the incentives and constraints to regulate the retirement age mechanism.

Expansion of content

I. Why delay retirement?

First of all, delayed retirement can ease the pressure of aging, there are statistics, our country also appeared more serious aging trend, according to this trend continues, the country's labor force will also gradually reduce, will also be detrimental to the country's economic development, and the aging problem is prominent, the country's old age pension burden, so appropriate delayed retirement, for the normal development of the country's economy is very good, the normal development of the country's economy. The country's economic development is good in order to afford the pension of so many people, which is complementary.

Secondly, delayed retirement is also in line with the worldwide trend, the world, China's retirement age is relatively early, at present, China's retirement age of 60 years old for male workers, female workers in the age of 50 years old, female cadres in the retirement age of 55 years old. Retirement at this age, the majority of people are still in good health.

Finally, the state delayed retirement also takes into account the growth of life expectancy of the country's people, people's living standards have improved, and access to health care is also improving, so the life expectancy of the country's people is getting longer and longer. According to statistics, the average life expectancy of the country has reached 75 years, and also shows a trend of growth, so in this case, appropriate delay in the age of retirement is also a reasonable thing.

Two, what are the benefits of delayed retirement?

1, extend the retirement age is conducive to give full play to the role of senior talents. If you insist on the existing retirement age remains unchanged, it will inevitably lead to a waste of talent.

2, can ease the pressure of social security, extend the statutory retirement age, not only can increase the creation of social wealth, but also relatively ease the pressure of social pensions, medical care and other aspects.

3, increase the welfare of most people, delayed retirement more people can also enjoy some more generous wages and benefits.

4, alleviate the lack of labor, delayed retirement, experienced and skilled workers work can be extended, on the production, the development of the country's economy is good.

Three, when will the delayed retirement age be implemented?

The final program of gradual delayed retirement policy in the "13th Five-Year Plan" period has not been formally announced, but some of the recommendations of the relevant department heads, authoritative experts have long been in the press. For the target retirement age, Renmin University of China Professor Zheng Gongcheng, President of the Chinese Social Security Society recently said that from a comprehensive and rational approach to delaying the retirement of the idea of raising the benchmark retirement age to 65 years old around 2050 is feasible.