Xiaojun Wang, Ming Zhao

【Abstract】

Based on international comparative perspective, this paper explores the rela- tionship mechanism between life extension and deferring retirement, and analyses the inter- national countries’ practices. Through the study of the trends of China’s population life ex-pectancy and a certain actuarial assumptions, this paper calculates the deferring retirement effect on the pressure pension payment and the sensitivity of the economic and institutional factors. The results show that China’s population life expectancy has the growth trend. The effect of deferring retirement is significant for alleviate pressure pension payment, and a substitution effect between economic factors and policy of deferring retirement, but the gender gap is significant. Despite the deferring retirement is an inevitable choice for our country, this is not the time.

【Keywords】

life extension, deferring retirement, international comparison, empirical research