Financial Imbalance Risk and Its Control Strategy of China’s Pension Insurance Contribution Rate Reduction
Table 3
Reforms in the retirement age policy of representative countries.
Before reform
After reform
Detailed scheme
U.S.
Male: 65 years
Male: 67 years
From 2003, postponing two months each year, till 67 years in 2017
Female: 65 years
Female: 67 years
U.K.
Male: 65 years
Male: 68 years
From 2016 to 2018, female increases to 65 years. From 2034 to 2036, both male and female increase to 67 years, and increase to 68 from 2044 to 2046.
Female: 60–65 years
Female: 68 years
Germany
Male: 65 years
Male: 67 years
From 2012, postponing one month each year, till 66 years in 2023. Form 2023, postponing two months each year, till 67 years in 2029.
Female: 65 years
Female: 67 years
Australia
Male: 65 years
Male: 67 years
From 1995, female postpones six months every 1.5 years, till 65 years in 2017. From 2018, both and male and female postpone six months every 1.5 years, till 67 years in 2022.
