Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China

Research Article

Study of Retirement Plan Selection Using Computer Simulation Technology

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  • @INPROCEEDINGS{10.4108/eai.18-11-2022.2326788,
        author={Suping  Qian and Qiming  Feng},
        title={Study of Retirement Plan Selection Using Computer Simulation Technology},
        proceedings={Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China},
        publisher={EAI},
        proceedings_a={ICEMME},
        year={2023},
        month={2},
        keywords={computer simulation technology; calculation model; old-age pension; retirement plan},
        doi={10.4108/eai.18-11-2022.2326788}
    }
    
  • Suping Qian
    Qiming Feng
    Year: 2023
    Study of Retirement Plan Selection Using Computer Simulation Technology
    ICEMME
    EAI
    DOI: 10.4108/eai.18-11-2022.2326788
Suping Qian1, Qiming Feng2,*
  • 1: School of Accounting and Finance, Wuxi Institute of Commerce Wuxi, China
  • 2: Department of Mathematics, Wuxi Institute of Commerce Wuxi, Chin
*Contact email: feng_qiming@163.com

Abstract

The application of computer simulation technology in retirement scheme selection is not only the simulation of the pension itself, but also the prediction of the pension system. The design of the pension system is a systematic project, which should not only have a certain integrity, authority, and principle but also have a certain flexibility. In the process of implementation, it is suggested to implement a flexible retirement system. The latest national policy stipulates that female leading cadres and female professional and technical personnel can choose to retire at the age of 55 or 60. The choice of retirement time requires comprehensive consideration of various factors. If employees choose to postpone their retirement, they will have to pay more pension contributions and enjoy their pensions for a shorter period of time, but their pension levels will increase accordingly upon retirement. Using computer simulations, this paper discusses the time required for pensions to reach equilibrium for different years of actual payments, different interest rates, and different investment returns, and compares it with the remaining life expectancy of employees as a reference for selecting retirement options.