Abstract: The national “14th Five-Year Plan” and the report to the 20th National Congress of the Communist Party of China propose “raising the statutory retirement age in a phased manner” and “gradually raising the statutory retirement age” respectively. In the process of implementing delayed retirement policy in China, the main roles of enterprises and employees are often overlooked, and the proposed delayed retirement plan is often not flexible and not highly targeted. Based on the review of the studies on delayed retirement at the levels of organizations and employee at home and abroad, this paper analyzes the impact, influencing factors and guiding policies of implementing delayed retirement on enterprise organizations and employees. The results show that at the academic level, there are few studies on the attitude, willingness or behavior of enterprise managers and employers to delayed retirement. At the national level, delayed retirement not only requires a good top-level design in policies, but also needs to consider the objective facts and interests of enterprise and employees. At the organizational level, factors such as retirement policy, organizational scale, organizational culture and atmosphere, human resources strategy and practice system, management ability of elderly employees, and human-job matching management, significantly affect the retirement behavior of elderly employees. In addition, at the employee level, factors like achievement of career goals, perceived organizational support, leadership style, career cycle, work pressure, work motivation, autonomous time arrangement, work satisfaction, work value and meaning also have a great effect on the retirement behavior of the elderly employees.