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Retirement delay unified or differentiated—based on the interaction between pension deficit and labor market

机译:退休延迟统一或有区别-基于养老金赤字与劳动力市场之间的相互作用

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Abstract Background The pension deficit has been rapidly enlarging for more than a decade. If the retirement age is set at a low level, it might trigger a pensions crisis. Since the average life span of the Chinese has extended from 71 to 76 years old in last ten years, the feasibility of rising the retirement age has also been promoted. Methods This paper aims to construct a mathematical model for choosing a proper policy about raising retirement age on the basis of the interaction between shortage of pension funds and labor market. It has also conducted a simulation analysis over the economic efficiency and political feasibility of a uniformed or a differentiated retirement-age delay policy. Results Our findings show that it is up to how effective the pension deficit is closed, how many employments will be crowded out, and whether it is politically acceptable that the length and kind of the delay is decided. From the policy effect of raising retirement age, a soft approach to delaying retirement will be better than a tough one, and a differentiated method will be better than a uniformed one. The root cause for the inconsistency of the policy effect is the discrepancies in terms of wage rate and job fulfillment, brought by different human capital situations and individual differences of the insured. The shortage of pension funds can be more effectively closed, and the impact on new labor force will be reduced, if we employ a differentiated approach to delay retirement according to the pattern of human capital accumulation and the supply and demand status of labor force. Conclusions Based on the above research, Not only can the differentiated approach crowd out fewer new employees, but also it can acquire support from the majority of the insured. We must attach importance to the role of human capital investment in addressing pension and employment crises, especially the low- skilled labor, can get more vocational training and academic education.
机译:摘要背景十多年来,养老金赤字一直在迅速扩大。如果将退休年龄定为较低水平,则可能引发养老金危机。由于过去十年中国人的平均寿命从71岁延长到76岁,提高退休年龄的可行性也得到了促进。方法本文旨在建立一个数学模型,以在养老金短缺和劳动力市场之间的相互作用的基础上,选择适当的提高退休年龄的政策。它还对统一或有区别的退休年龄延迟政策的经济效率和政治可行性进行了模拟分析。结果我们的研究结果表明,养老金赤字如何有效地消除,有多少工作将被排挤,以及延迟的时间和种类的决定在政治上是可以接受的。从提高退休年龄的政策效果来看,推迟退休的软方法要比艰难的方法好,而区别对待的方法要比统一的方法好。政策效果不一致的根本原因是由于不同的人力资本状况和被保险人的个人差异所导致的工资率和工作成就方面的差异。如果我们根据人力资本积累的模式和劳动力的供求状况,采用差异化的方法延迟退休,则可以更有效地解决养老金短缺问题,并减少对新劳动力的影响。结论基于以上研究,差异化方法不仅可以挤出更少的新员工,而且可以从大多数被保险人那里获得支持。我们必须重视人力资本投资在应对养老金和就业危机(特别是低技能劳动力)方面的作用,能够获得更多的职业培训和学术教育。

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