The Chinese government has approved a plan to raise the retirement age in response to the challenges posed by the country’s aging population. The new policy, passed by the Standing Committee of the National People’s Congress, will gradually increase the retirement age over 15 years, starting in January. It will raise the retirement age for men from 60 to 63 and for female office workers from 55 to 58. Female blue-collar workers, who could previously retire at 50, will now have to wait until 55.
The adjustment is aimed at adapting to China’s changing demographic landscape and fully utilizing human resources. This initiative, the first of its kind since 1978, is based on increased life expectancy, improved healthcare conditions, and the need to counter a shrinking workforce. By 2050, life expectancy in China is projected to exceed 80 years.
The move is seen as a solution to the potential depletion of the pension system by 2035. While previous attempts to change the retirement age were met with opposition, this adjustment is expected to alleviate some of the economic pressure caused by an aging population.
[ad_2]
Source link
