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VOL.2 November 2010
Retiring Age Stretched

Yes

 

Wang Yanzhong

Professor on sociology

It is imperative for China to postpone the statutory retirement age gradually over several decades. With the development of the economy and the change of population structure, the pressure on the pension payments is becoming greater, requiring the government to take countermeasures to deal with the problem.

In terms of citizens' working capability and physical fitness, pushing back the retirement age is a rational use of resources. The current retirement system, which was set up in the 1950s, is based on people's average life expectancy. In the 1950s, the average life span was about 40. But nowadays, it has been greatly prolonged. As a result, the retirement age should be altered accordingly. Otherwise, it is a waste of human resources.

Postponing the retirement age will effectively alleviate the pressure on pension payments. 

In addition, I don't think more job opportunities can be provided even if people retire at an earlier age as many people who retire ahead of time find alternative employment. Moreover, although the human resources are abundant nowadays, a labor shortage is an inevitable trend in the long run. When the era of labor shortage does arise, it will be too late to postpone the retirement age.

 

Bai Ming

blog.cnfol.com

I back the proposal of extending the retirement age, as it is reasonable and pragmatic.

First, there is a legal basis to delay the retirement age. According to Chinese Constitution, citizens have the right and obligation to work. Literally speaking, as long as you are endowed with civil rights, you have the right to work. Female citizens over 55 and male citizens over 60 are no exceptions.

Second, it is a waste of talent to make people retire early. People in their 60s are mostly in good health and are experienced in their working field. In view of these people's experience, good health and the cost of training them, they should be put to more use.

Third, from the perspective of the future human resources condition, it is necessary to postpone the retirement age. Despite the current situation of labor surplus, China will need more human resources in the future, high-quality professionals in particular, as its economy is developing at a high speed. If so, pushing back the retirement age is a good solution to the future labor shortage.

 

Huang Runlong

Professor from Nanjing Normal University

Postponing the retirement age will alleviate social burdens and the problem of an aging population. I don't think it will have too bad an impact on university graduates' employment, as ability is the decisive factor in job hunting. In fact, pushing back the retirement age will be a stimulus for the students to work harder so that they will be more competitive in the future job market. In addition, many foreign countries have benefited from extending the retirement age. Many experienced veterans in specific fields make significant contributions to society, so we should provide people in their 60s with opportunities to demonstrate their talents.

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