Shanghai to adopt flexible deferred retirement measures

11:20, September 29, 2010      

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Shanghai will implement flexible measures to postpone accepting the basic pension applications starting on Oct. 1. According to the Shanghai Municipal Human Resources and Social Security Bureau, Shanghai's trial measures stipulate that the deferred retirement age will generally be at the maximum of 65 years for men and 60 years for women.

The trial measures have incorporated all kinds of talent in enterprises into the scope of flexible deferred pension applications. It means that qualified professional technicians, skilled personnel with primary and advanced technician certificates and other personnel needed by enterprises that have joined Shanghai's urban pension insurance scheme can all choose flexible deferred retirement.

According to an official from the bureau, postponing the pension application age will first help various kinds of talent to better play their roles and enable a better-educated workforce to increase working hours.

Second, postponing the pension application age will raise personal pension levels. If those covered by the pension system postpone their pension application age, they will not only receive salaries, but they can also continue their pension premium payments. This will increase both the term of the pension premium payments and the amount of their personal pension accounts, raising their personal pension levels.

It is known that some countries have applied deferred retirement as one of the major measures to deal with population aging and to balance the payment and revenue of the pension funds. Shanghai was China's first city to face an aging population, and it is significant that Shanghai is actively exploring ways to adjust the pension application age.

By People's Daily Online


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