Beijing, China — China announced on Wednesday new interim measures to gradually raise the country’s statutory retirement age, marking a significant shift to address the challenges of an aging population.
Beginning January 1, 2025, the retirement age for men will incrementally increase from 60 to 63 over the next 15 years. Female cadres, or officials, will see their retirement age rise from 55 to 58, while female blue-collar workers will have their retirement age adjusted from 50 to 55.
The measures outline procedures for applying for flexible retirement and detail the requirements for receiving basic pensions. Officials believe this gradual change will help balance the workforce and ensure the sustainability of the pension system.
China’s population is aging rapidly, and the shift aims to alleviate economic pressures from a shrinking labor force supporting a growing number of retirees. By extending working years, the government hopes to maintain economic stability and social development.
The policy has been a topic of discussion for years, and its implementation signifies a proactive approach to demographic challenges. The gradual process is intended to ease the transition for workers and employers alike.
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China unveils interim measures for flexible retirement system
cgtn.com
