Study on the merits and demerits of the flexible delay for the basic pension from personal perspective

The statutory retirement age of Chinese enterprises employees is the lower in the world. So it still leaves a large upper room for lifting the retirement age by regulations. From 2008 on, the argument on whether we should delay retirement has not been stopped. In September 6th, 2010, Shanghai municipal human resources and social security bureau promulgated Opinion on the flexible delay for the basic old-age for various talents of enterprise in Shanghai. Discussion on the merits and demerits of policy becomes the current social topics. From personal perspective, this paper analyzes the change of getting a pension for the employees, and gives the critical age for benefits of pension in the implementation of policy on the basis of income and expenditure of pension from three views that 60 percent, 100 percent and 300 percent of the social average wage,. The result shows that the policy of the employees is favorable as the increasing of Shanghai average life expectancy.