Individual retirement decision is to maximize self utility under the condition of uncertainty. The parameters of pension system, including the income level, return rate of individual account pension, benefit adjustment rate, discount rate, influence the scale of pension wealth and then individual retirement decision. Based on the pension wealth model, this paper analyzed the scale of pension wealth and the optimal retirement age under the different scenarios. To reach the situation of "incentive compatible constraint" is the feasible choice to adjust the retirement policy, which takes into account the individual ration and collective ration. This paper puts forwards some proposals:to build up the much more flexible retirement policy and to adjust the related parameters of pension system to release the endogenous incentive to the individual retirement decision.
