On March 12, 2021, the 14th Five-Year Plan for the National Economic and Social Development of the People's Republic of China and the Outline of Long-term Goals for 2035 announced clearly stated that adjustments should be made in small steps and with flexibility. The statutory retirement age will be gradually extended based on the principles of implementation, classified promotion, and overall planning.

Delayed retirement means delayed retirement age. It means that the country gradually raises the retirement age by taking into account the changes in China's population structure and employment situation in conjunction with the policies of some foreign countries that are discussing or have decided to raise the retirement age. Delayed retirement system.

From a national perspective, delayed retirement can increase China’s pension pooling fund by 4 billion yuan a year, reduce expenditure by 16 billion yuan, and reduce the fund gap by about 20 billion yuan. Delayed retirement can reduce the pressure on national pension expenditures. .

The policy of delaying the statutory retirement age is related to the interests of all citizens. It must be implemented slowly and steadily to avoid causing new social conflicts.

First, implement differentiated postponement of the statutory retirement age for different industries and types of work.

The second is to consider implementing a flexible retirement system. That is to say, a retirement age range is set. When employees reach the minimum retirement age, they can choose an appropriate time point after this age to go through retirement procedures according to their own circumstances. When they reach the maximum retirement age, they must go through retirement procedures. Implementing a flexible retirement system can, on the one hand, give employees greater autonomy and reflect humanistic care. On the other hand, some energetic and capable personnel can continue to stay at their jobs and use their spare energy to avoid wastage of human resources.

Third, pensions can be reduced early and increased later.

Legal Basis

"Interim Measures of the State Council on the Retirement and Resignation of Workers"

Article 1 Enterprises, public institutions, party and government agencies, and mass organizations owned by the whole people Workers who meet one of the following conditions should retire.

(1) Males are over sixty years old, females are over fifty years old, and have served for ten consecutive years.

(2) Those engaged in underground, high-altitude, high-temperature, particularly heavy physical labor or other work harmful to health, men over fifty-five years old and women over forty-five years old, with ten consecutive years of service of.

This provision also applies to grassroots cadres whose working conditions are the same as those of workers.

(3) Males are over 50 years old, females are over 45 years old, have worked continuously for ten years, are certified by the hospital and confirmed by the Labor Appraisal Committee, and have completely lost the ability to work.

(4) Disabled due to work, certified by the hospital and confirmed by the Labor Appraisal Committee, indicating complete loss of working ability.