At present, the population structure of all countries in the world is ageing, followed by the increasing pressure to pay pensions. To meet the challenges, countries have taken countermeasures, and many countries are considering delaying the legal retirement age. In general, the legal retirement age refers to the minimum age for full retirement pension in accordance with the law. For now, the legal retirement age is mostly between 60 and 65, while countries such as Japan and Singapore plan to raise the retirement age to a maximum of 70, while countries such as Japan and Singapore plan to raise the retirement age to more than 65.

In addition to directly delaying retirement, some countries have flexible retirement systems, which means that once workers reach the lower limit of the retirement age, they can choose whether to retire early to enjoy life or to work harder to continue to work. However, the choice of early retirement, there is usually a "price". Americans, for example, can start receiving pensions when they reach the age of 62, but receive only 70 percent of their full pension, with fewer discounts for every month they delay. A person who retires according to the legal age may receive a full pension. However, this age is also continuing to rise. 1937 or For those born earlier, the legal retirement age was 65, compared with 66 between 1943 and 1954. Those born in 1955 were 66 and 2 months, and then increased by two months a year to 67. On the other hand, if you choose to delay retirement, you can get incentive benefits on the basis of the original pension. If the normal retirement age is 66, choose to retire at 67, then you will receive a monthly pension of 108 percent, or 132 percent a month if you choose to retire after the age of 70 or after the age of 70. In addition to the United States, Japan, Germany and other countries are also flexible. Retirement system However, countries with flexible retirement systems generally set up pension payment structures to encourage workers to work longer hours and limit early retirement.

According to the 2018 World Health Statistics report of the World Health Organization, Japan ranks first in the world with a life expectancy of 84.2 years. Accompanied by a series of problems, such as the aging problem in Japan, the shortage of labor force, the shortage of pensions, the low income of the elderly and so on. When Japan first established the thick annuity insurance system in 1944, the starting age of pension payment was 55 years old. After several reforms, the current minimum retirement age in Japan is 60. However, in 2019, the Japanese government again proposed to extend the retirement age, and plans to amend the employment security of the elderly in Congress in 2020. The retirement age is finally extended to 70 in two steps. Like Japan, Singapore now ranks first in the world in life expectancy, at 82.9 years. As a result, Singapore's retirement age is also high and will continue to be raised. In August 2019, Prime Minister Lee Hsien Loong announced that Singapore's legal retirement age and re-employment age would be adjusted for the first round from July 1, 2022, to 63 and 68, respectively, from the current 62 and 67, and to 65 and 70, respectively, in 2030.

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According to foreign media reports, with the development of society, retirement age "male and female" is the general trend. However, there are still many countries where women retire earlier. Russian law, for example, sets the retirement age at 55 for women and 60 for men. This figure is defined by laws passed during the former Soviet Union more than 80 years ago. Russian experts believe that it is no longer in line with social and economic development. in June 2018, the Russian government issued a retirement age reform plan, which plans to gradually raise the retirement age for men from 60 to 65 over the next 10 years and from 55 to 65 for women over the next 16 years. He is 63 years old. But at the end of August, Russian President Vladimir Putin eased the plan slightly because of popular opposition, announcing that the retirement age for Russian women would be raised to 60 and that the retirement age for men would remain 65. The bill entered into force in January 2019 after it was passed by the State Duma. In addition to Russia, China, Switzerland, Austria, Brazil and other countries also implement different retirement age systems for men and women. According to the Ministry of Human and Social Affairs, the age limit for individual insured persons to receive a basic pension is clear, that is, men reach the age of 60 and women reach the age of 55.

According to the United Nations, the global population is ageing. Population aging is likely to become one of the most important social trends in the 21st century, and almost all social areas are affected by it, including labour and financial markets, demand for goods and services such as housing, transportation and social security, family structure and intergenerational relations. Data from the United Nations World population Outlook: revision 2019 show that by 2050, one in six people in the world will be over 65 years of age (16 per cent), compared with 11 in 2019 (9 per cent); by 2050, in Europe and North America, every 4 people One of them is 65 or older. In 2018, the world's population aged 65 or over exceeded the number of people under the age of five in an unprecedented number. In addition, the population aged 80 or over is expected to triple, from 143 million in 2019 to 426 million in 2050. Therefore, dealing with many of the problems brought about by this has become a situation that the international community has to face. Among them, the adjustment of retirement age has become a choice that many countries have to make. The United States, Britain, Germany, Russia, Japan, South Korea and other countries have enacted or are in the process of enacting bills to delay retirement.