ZOU Tieding,YE Hang:Retirement Delay: Unified or Differentiated?——Based on the Interaction Between Pension Deficit and Labor Market

Abstract：Based on the interaction of pension deficit and labor market, this paper analyzed the selection mechanism of retirement delay, and the economic efficiency and political feasibility of both unified and differentiated retirement delay.The study results showed that, judging from the policy effect, mild delay is superior to severe delay while differentiated delay is superior to unified delay.The differences in wage rate and job achievement brought by human capital condition and individual differences are the root reason for different policy effects.Because high skilled workers own more human resources and common workers own less, it is conducive to conduct severe delay for former ones and mild delay for the latter and this measure will help solve the problem of pension deficit and ease the pressure of unemployment.However, the policy effects of retirement delay depend on the improving of pensioners' human resource condition.So, it is essential to emphasize the job training and degree education of pensioners, especially the low skilled ones.

Key words： Endowment Insurance    Pension Deficit    Retirement Delay    Labor Market

source:Finance & Trade Economics ,No.4,2015