TITLE:
A Study on the Impact of Delaying the Retirement Age Policy on the Employment of Young Workers
AUTHORS:
Ying Fan
KEYWORDS:
Delayed Retirement Age Policy, Labour Force, Employment, Crowding Out Effect, Output Effect
JOURNAL NAME:
Open Access Library Journal,
Vol.9 No.7,
July
21,
2022
ABSTRACT: In the face of a disappearing demographic dividend and in order to meet the serious challenge of an ageing population, the National 14th Five-Year Plan clearly proposes to “implement a gradual delay in the statutory retirement age”. Although a delayed retirement policy is inevitable, academic debates on the desirability of delayed retirement have not ceased. Through extensive literature research and theoretical analysis, this paper explores the impact of a delayed retirement age policy on the employment of young people and the substitution or complementary relationship between the older and younger workforce. It is intended to provide reference for the government to formulate a policy on the working life of the labour force.