Summary of Research on the Delayed Retirement Policy
Jiani Yang
School of Medical Humanities and Management, Wenzhou Medical University, Wenzhou, Zhejiang, 325000, China
Keywords: Delayed Retirement Policy, Pension System, Literature Review.
Abstract: Recent years, with the deepening global aging trend, China chose some policies of raising the retirement age
to alleviate this problem. The research of this policy exists a certain number at present, but the core references
among it have only one number of review of literature which is published in many years ago. So this article
as the first review-type research after adopting the policy, will classify the literature before and after
implementation of the policy and make a conclusion to fill the blank of this field. On the basis of research, it
shows that raising the retirement age is beneficial to keep the pensions system and deal the problem of pension
insurance fund and medical insurance fund, while it is limited in the level of alleviating financial stress.
Additionally, this policy is also positive in term of population and employment, but it has an influence on
human health.
1 INTRODUCTION
In recent years, with the deepening global aging
trend, the majority of countries have strong financial
stress and high public deficit. On the basis of Allianz
Global Pension Report 2020, it shows that the baby
boom generation is coming to an end and that the
global social security system faces an enormous
challenge (Allianz Group, 2020). China has already
stepped in an aging society. On the basis of Bulletin
on the Development of National Aging Issues in 2023
from national administration for the elderly of the
ministry of civil affairs of China, it shows there were
296.97 million people aged 60 and above in China,
accounting for 21.1% of the total population; there
were 216.76 million people aged 65 and above,
accounting for 15.4% of the total population. The
dependency ratio of people aged 65 and above was
22.5% at the end of 2023 (Ministry of Civil Affairs,
2024). On the basis of Allianz Global Pension Report
2020, it illustrates the rank of aging of China is 11th
in the world and 1st in Asia (Allianz Group, 2020).
What’s more, the trend of aging in China will be more
rapid, so pension insurance companies are facing
serious stress of pension paying, and government as
well as market economy environment, are facing
extremely powerful impact. However, delayed
retirement policy is positive to alleviate a series of
economic problem and promote the second
demographic dividend to alleviate the problem of
labor lacking. That’s why it is important for China.
As early as 2013, China proposed that “Study and
formulate policies to gradually raise the retirement
age”, also clear and to “Gradually raise the statutory
retirement age in accordance with the principles of
small adjustments, flexible implementation,
classified promotion, and overall consideration” (The
Central Committee of the Communist Party of China,
2013) (State Council, People's Republic of China,
2021). On September 13, 2024, at the 11th session of
the Standing Committee of the 14th National People’s
Congress, the State Council deliberated a proposal on
submitting a draft decision on implementing a gradual
extension of the statutory retirement age, and decided
to take effect on January 1, 2025 (Standing
Committee of the National People's Congress, 2023).
The policy of raising the retirement age of China
mainly refers to social security, labor market and
another public policy field. This policy will affect
workers or the potential labor force of different
sectors, especially on elder workers and someone
who is about to enter the workforce. China has
proposed to formulate gradual raising the retirement
age policy in 2013. This policy experience more than
20 years from embryo to implement formally in
China. Although there are many researchers in this
field have done abundant researches, the review of
literature is sparse. The number of review of literature
in core references in China National Knowledge
Infrastructure is only one. This article is A Review of
Yang, J.
Summary of Research on the Delayed Retirement Policy.
DOI: 10.5220/0014373100004859
Paper published under CC license (CC BY-NC-ND 4.0)
In Proceedings of the 1st International Conference on Politics, Law, and Social Science (ICPLSS 2025), pages 269-275
ISBN: 978-989-758-785-6
Proceedings Copyright © 2026 by SCITEPRESS – Science and Technology Publications, Lda.
269

Research on the Policy of Gradual Delay of
Retirement Age written by Wang Kexiang and Yu
Lingyun in 2016 (Wang and Yu, 2016). Because this
article was written earlier and the article after the
policy officially retreated is lacking. So this article
classifies relevant literature to discuss the
contribution of this articles and show the shortages,
expecting other researches will fill these blank of the
field in the future.
2 RESEARCH METHOD AND
PROCESS
This article mainly uses search engines such as CNKI,
Web of Science and Pubmed to collect and sort
literature. Specific steps are as follows: on the first
step, this research initially search reference in the
CNKI is mainly find Chinese reference and the first
search keyword is “retirement”. This study chooses
core journals of Peking University and CSSCI
journals as criterion, then it can bring into 4640
literature. On the second step, because of the surplus
of the first search keyword, this research decides to
accurate keyword. So the second search keyword is
“raising the retirement”, the search engine and journal
inclusion criterion are unchanged. Then it can bring
into 803 literature. On the third step, this study refines
the keyword again to narrow the study. The third
search keyword is “raising the retirement age policy”,
the search engine and journal inclusion criteria are
unchanged. Then it can bring into 202 literature. On
the fourth step, this research selects these 202
literature by use “Cited more than 100” and “Top 10
downloads” as the criteria. Then it can gain a total of
14 Chinese literature at last. On the fifth step, this
study selects the literature of the last three years with
the same keyword. The inclusion criterion is “The
published period is after 2022, including 2022” and
“Cited more than 15” and “Download more than
6000”. Then it can gain 8 literature. On the sixth step,
based on the time of China delayed retirement policy
formally adopting, this research collects literature
which published after September 13th, 2024. The
keyword, search engine and journal inclusion criteria
are unchanged. Then it can bring into 7 literature.
Because the Prospective Analysis of the Mechanism
and Policy Effects of Delayed Retirement is already
bringing into this research in the fifth step, it will not
be accounted in this step. On the seventh step, this
study uses a keyword as “raise the retirement age” to
search in the Web of Science and Pubmed. It can gain
1697 literature. Next, it brings into these literature by
use SCI journals and SSCI journals as the criterion,
that it can screen out the reference of exploring the
delayed retirement policy as the main content. So it
can gain 6 literature. On the eighth step, after
preliminary reading of Chinese literature, this study
collects references citing more than 3 and relating to
delayed retirement. It can totally add 6 literature. On
the ninth step, after detailed reading for all adopted
documents, deleting related documents which aren’t
major in raising the retirement age and the documents
of non-empirical research and the documents of
review. Totally deleting 22 documents. The
remaining documents include 13 Chinese documents
and 6 English documents.
3 SUMMARY OF RESEARCH ON
THE DELAYED RETIREMENT
POLICY
“Raising the retirement age”, as a terminology, its
concept was put forward at the end of the 19th century
in Germany and its purpose is to alleviate the aging
and pension stress. The almost of Western developed
countries stepped into the aging society earlier, so that
their research for raising the retirement age has
deeper development. They put forward “flexible
retirement mechanism,” “progressive reform,” and
other ideas for the first time. They also explored the
advantages and disadvantages of various policy
models through experiments. The research in China
is later than in other countries. The earliest research
of raising the retirement age in China came from
Dong Tingjie. The “6050” retirement age line is a
“string” that wants to be broken, in 2007. It indicated
that the policy of flexible retirement was a feasible
way that suits China’s national conditions for Chinese
aging (Dong, 2007). Followed by Shao Guodong,
Yang Jing, Zhou Hui, Zheng Chunrong, Zhang Yi and
other scholars’ researches for the feasibility of
delayed retirement in China (Shao, 2008; Yang, 2010;
Zheng and Liu, 2011; Zhang, 2011). After that, the
research of raising the retirement age developed
quickly, and it peaked between 2015 and 2017 and
then leveled off. On the whole, the researches in
China began with talent studies and labor science,
macroeconomic management and sustainable
development, insurance, and etc related subject
horizons, most of them chose overlap of generations,
intertemporal iteration model, actuarial model,
dynamic population forecasting methods, and other
ways. They also adopted the method of combining
qualitative and quantitative analysis for researches in
delayed retirement policy. The related policies were
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divided into relevant studies before formal adoption
and the latest studies after formal adoption by the time
when the policies were formally adopted. It also
divided studies before policies’ formal using by the
impact of the policies’ aims in detail. Finally, from all
perspectives, sorting related studies.
3.1 Researches Before the Policy
Adopted
3.1.1 From the Perspective of Pension
System
In the field of delayed retirement, the academic
research community largely discusses the
relationship between raising the retirement age and
pension system. Some scholars think delayed
retirement is beneficial to pension system
sustainability, whereas it is limited to alleviating
financial stress. In the early reformation, the effect of
contribution years and the effect of the duration of
receiving benefits occupied the leading status to
improve the pension income and expenses condition.
With the effect of substitution rate and differential
effect strengthened gradually, it will impact to the
result of raising the retirement age policy (Zhang,
2011). What’s more, raising the retirement age can
only reduce 25-28 periods of financial subsidies of
personal pension accounts. After that time, the
government’s stress will rise continuously (Zeng et
al., 2013). Male pension paying is main stress among
future pension payers. But the deficit of the pension
insurance fund can be alleviated by moderately
raising the increasing rate of females (especially
female cadres) retirement age (Shi, 2022). Another
researcher also demonstrates the drawback of the
delayed retirement policy. They think that delaying
the time of receiving pension welfare can sometimes
add retired group’s pension wealth, whereas it can
also lead to the effect of diminishing benefits, which
will be strengthened with the extension of retirement
age (Liu, 2013). But in general terms, implementing
the delayed retirement policy as early as possible is
better than raising the retirement age rate in the
pension expenses burden (Shi, 2022). Moreover,
raising the retirement age is effective in extending the
years of working to ensure the financial sustainability
of the pension system (Nivalainen, 2023).
Additionally, moderately raising the retirement age
can increase pension income. The rolling retirement
age adjustment plan that raises the retirement age by
several months each year is more beneficial than a
one-step change plan of retirement age in the term of
pension system sound development (Hu et al., 2023).
3.1.2 From the Perspective of Demography
and Employment
Different scholars have different perspectives in the
relationship of the delayed retirement policy and
demography research, so it generates various
theories. Taking the demographic dividend as the
entry point, the study finds that delayed retirement
can’t form the second demographic dividend.
However, incorporating the improvement of average
life expectancy into the economic development
indicator system can keep the human expectancy of
lifetime. So it is positive to rise the saving rate and
capital accumulation to form the second demographic
dividend (Geng and sun, 2017). Taking the labor
market as the entry point, research finds that delayed
retirement affects the path of intergenerational
income transfer degree within a family, with the help
of economic factors. So it generates the substitution
effect of quality and quantity during family
childbirth. Parent’s concern extent of children’s
quality and quantity will impact the growth in labor
supply in different ways (Guo and Yan, 2016).
Additionally, raising the retirement age policy will
generate various benefits in various stages. In the
short term, the policy decides on to optimal delayed
retirement plan. Plan with a buffer period and slow
walk can reduce the variability of labor market in the
reform process to lower the welfare loss of the
approaching retirement age group. In the long term,
raising the retirement age is conducive to improving
output. Based on the reduction of social security
contributions can help policy decision-makers to
expediently adjust to the basic pension insurance
replacement rate (Qiu et al., 2020). Taking the
employment rate as the entry point, the study finds
that delayed retirement raises the employment rate
and the influence on females is stronger than on
males. Employment rate growth is the most obvious
influence on high salaries and healthy employees.
Low salaries and unhealthy employees often early
retire by disability benefits or through the
unemployment insurance to fill the blank from the
increase in the legal retirement age. Moreover,
reformation generates the obvious overflow in the
unemployment insurance terms, but the impact on
disability insurance application can be disregarded
(Staubli and Zweimüller, 2013).
3.1.3 From the Perspective of Insurance
Fund
Insurance fund reserve is also an important field when
scholars discuss the delayed retirement influence.
Summary of Research on the Delayed Retirement Policy
271

Raising the retirement age (especially for female) can
effectively solve the aging and alleviate the deficit of
the pension insurance fund. With the gradual
adjustment and supporting measures helping, it can
guarantee the fund sustainability and alleviate the
stress of companies as well as workers (Cong, 2009).
Enhancing the level of overall planning will help to
adjust the short-term income and expenses balance of
pension insurance fund. Choosing the combination of
gradually raising the retirement age could help the
policy to have better result (Zeng and Lu, 2023).
What’s more, delayed retirement policy not only
affects the pension insurance fund, but also improve
the sustainability of the employee medical insurance
fund. However, it can’t keep the income and expenses
balance of the employee medical insurance fund for a
long time (Zeng et al., 2021).
3.1.4 From the Perspective of Human
Health
International research on delayed retirement policy
have extended to the human health field. Some
researchers indicate this policy is positive to male to
increase regular exercise to adapt more years of
working by researching a series of pension reform
policies in Italy. So it contributes to solve the obesity
and enhance the degree of satisfaction with oneself
(Bertoni et al., 2018). Meanwhile, this policy has
some disadvantages. There is a study finding that
raising the retirement age suddenly may cause harm
to vulnerable female workers and increase the number
of hospitalizations and getting sickness. It will also
make some workers unemployed or receive disability
pensions (Serrano-Alarcón et al., 2023). However,
these shortcomings have a certain extent. If
reformation offered adequate time to adapt the variety
for affected people, potential adverse health
consequences will be minimized (Ci, 2022).
3.2 Researches After the Policy Was
Adopted
The 14th National People's Congress Standing
Committee’s 11th meeting adopted the decision to
implement the gradual postponement of the legal
retirement age on September 13th, 2024. This
decision had a significant impact on the research of
China’s delayed retirement policy and drove the
studies from researching whether to implement or not
to researching how to implement and its results.
Therefore, this article classify the literature published
after the policy was adopted.
3.2.1 From the Perspective of Affected
People's Psychology
After the delayed retirement policy was adopted, the
masses have various points to it. The attitude of the
masses has an important effect on the policy’s
successful implementation. So researchers do a series
of researches on it. The study use Python data mining
and NLP technique, analyzing text sentiment,
combining visualization techniques such as word
clouds to excavate the masses’ emotional attitude, hot
spots, suggestions and requests. Research shows the
public totally positive or neutral attitude and the
public opinion situation possesses a feature of
“diverse discussion subjects, deepened discussion
level, rapid-spreaded secondary issues, rationality-
trended social mentality” (Sun, 2025). As the key
group of delayed retirement effecting, workers’
intended retirement age is evidently higher than
actual retirement age. The income and intended
retirement age show an “U-shaped” relationship,
which is first reduced and then increased. While the
actual retirement age shows an adverse tendency.
Additionally, the actual retirement age is related to
the workplace. Employees of government agencies
and public institutions have lower sensitivity to a
variety of salaries (Ma and Zhu, 2024).
3.2.2 From the Perspective of Policy Factors
The latest research on delayed retirement policy
hasn’t presented a new perspective research. Most of
the studies on this field have the same key direction,
it still around the economic factors. Some researchers
build general analytical frameworks and actuarial
models to demonstrate that delayed retirement policy
will strengthen fund sustainability, evidently during
the 15 published years. But the benefits can’t last a
long time, it will appear a tendency of first increasing
and followed reducing over the next 30 years. It
hardly changes the financial stress fundamentally.
Although it introduced the flexible retirement system,
the result still hasn’t shown an obvious change (Chen
et al., 2025).
4 SHORTAGES AND
SUGGESTIONS
4.1 Shortages
There are some disadvantages to the studies. To begin
with, the research direction in China has a high degree
of homogeneity, most scholars prefer studying
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financial problems and the width as well as depth of
their studies are insufficient. What’ more, the
subsequent power of the Chinese related studies in
raising the retirement age isn’t enough so that it
appears most documents which were quoted highly
lack of timeliness, and there are not many new
documents. Secondly, the abroad documents are more
mature but they lack of innovation and prefer
traditional perspectives, lacking of awareness of the
use of online data, Blockchain technology and other
new technologies. Thirdly, due to the diverse impacts
of raising the retirement age policy, some scholars
didn’t consider relevant factors totally when they
were conducting hypothetical reasoning. Besides, the
discussion, which is based on the assumption of a
“rational person” caused the difference between
conclusion and reality so that the accuracy of the
conclusion isn’t enough. Finally, most of the present
studies focus on particular groups, lacking of the
coverage the general groups, and the capacity of
samples is small, so that the conclusion’s scope of
application is limited and can’t be easily.
4.2 Suggestions
4.2.1 Innovate the Multidisciplinary
Integration and Technology
In the first place, researchers should emphasize the
innovation of multidisciplinary integration and
technology to expand the breadth and depth of the
delayed retirement policy research. The policy refers
to various subjects, such as economy, sociology,
psychology, so multidisciplinary integration research
is helpful to consider more factors for researchers. It
can improve the persuasiveness of research results.
Additionally, the utilization of internet big data and
Blockchain technology is conducive to capturing
more accurate information to improve the precision
of results. Therefore, future studies need to break the
disciplinary barriers and build an interdisciplinary
cooperation framework. By the way, it will be better
to advocate for the innovation of research techniques
and apply the advanced technology to improve the
research accuracy. In this way, it can provide many
scientific and feasible suggestions for policy
decision-makers.
4.2.2 Strengthen the Precision of the
Research Design
In the second place, researchers should strengthen the
precision of the research design to improve the
empirical study's reliability. There are various factors
in the delayed retirement policy, including
endogenous variables and exogenous variables. The
comprehensive considerations help researchers to
control variables reasonably to improve the precision.
Therefore, researchers need to build a multilevel and
classified-grouped research framework. Moreover,
they should clarify the boundary conditions of the
research hypothesis and the inclusion criteria of
research samples. They could also choose the way of
combining qualitative and quantitative research
approaches.
4.2.3 Build a Dynamic Feedback Mechanism
In the third place, it can build a dynamic feedback
mechanism with “policy-research-policy” to promote
the coordinated development of theory and practice.
Among the studies of delayed retirement policy, some
researchers based on the rational man supposition to
make the discussion. It leads to some differences
between research results and reality. If researchers
used the real-time monitoring of policy effect, they
would find the shortcomings in their studies. Thus,
they could rebuild or improve studies to draw a
conclusion that is more in line with the actual
situation. Then it could improve the policy
adjustment and implementation by applying the
scientific conclusions. In this way, it can form a
closed-loop system with “problem identification-
research and analysis, policy optimization, and effect
feedback”. It not only promotes the social value of
study results, but also enhance the science and
adaptability of policy formulation.
5 CONCLUSION
According to the reviewing and sorting for the related
documents of raising the retirement age, researchers
considered it from diverse perspectives and their
studies have covered many domains. The scholars
from abroad or China made different perspectives
studies by diverse models and ways in the
sustainability of pensions, manpower supply, health
and etc, which were caused by raising the retirement
age. Their studies provide a theoretical basis and
scientific advice for carrying out the policy, and they
also contribute to the relevant departments improving
the policy. So far, the studies on raising the retirement
age in China have developed from zero to discussing
and publishing, so that it has changed a lot in studies
of this domain. The studies in China have discussed
its feasibility of appealing to the method of studies to
studying sustainable documents. Besides, there are
Summary of Research on the Delayed Retirement Policy
273

some new ways of studies such as online databases
from Chinese scholars to explore the domain with a
new perspective and combined with domain and new
technology. It promoted the innovation of the studies.
In other countries that stepped into the aging society
earlier, their studies in raising the retirement age also
began earlier. Their studies not only include the
policy and its relevant factors, but also develop the
research in actions of human. Their wide studies
domain and abundant practice experience can offer
some good experience for other countries.
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