In order to cope with the development of the aging population, the 14th Five-Year Plan in China clearly puts forward the scheme of reform to implementation of gradual delay of the legal retirement age. As a neighboring country, Japan has accumulated rich experiences in dealing with the aging of its population. By means of the retirement age reform, it has established an institutional system for the re-employment of the elderly companied with improving the labor market policies and revising the pension polices. At present, the delayed retirement reform in China is similar path to Japan. The theoretical research should focus on how to learn from Japan, eliminating the bad and extracting the good. The ultimate goal is to construct the local system which conforms to the characteristics of China's population development and the level of social and economic development.