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  5. Chinese policymakers consider raising retirement age to address demographic challenges

Chinese policymakers consider raising retirement age to address demographic challenges

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China's policymakers are considering a plan to delay the country's retirement age, which is currently among the lowest in the world. The retirement age is currently 60 for men, which is about six years lower than in most developed economies. China's life expectancy has risen to 78 years by 2021, making reform urgent. The government has announced plans to gradually raise the retirement age to allow people to work longer, but the exact new age has not been confirmed. Some reports suggest it may be raised to 65 years old.

  1. CN
    Chinese Communist Party
    1. In line with the principle of voluntary participation with appropriate flexibility, we will advance reform to gradually raise the statutory retirement age in a prudent and orderly manner.
  2. CN
    People's Daily China
    1. This reform will adapt to the objective situation of our country's widespread increase in life expectancy and years of education.
  3. CN
    Xinhua News Agency
    1. The statutory retirement age for male workers will be gradually extended from the original 60 years to 63 years.
    2. Starting 2030, the minimum year of basic pension contributions required to receive monthly benefits will be gradually raised from 15 years to 20 years at the pace of an increase of six months annually.
  4. CN
    Yanzhong Huang
    Council on Foreign Relations
    1. But in China with its large elderly population, the challenge is much larger.
  5. CN
    Xiujian Peng
    Victoria University
    1. We have more people coming into the retirement age, and so the pension fund is (facing) high pressure. That's why I think it's now time to act seriously.
    2. We have more people coming into the retirement age, and so the pension fund is [facing] high pressure.
  6. HK
    Stuart Gietel-Basten
    1. Anywhere in the world, whether it's in France, or even in Russia.
    2. So unless you're going to kick them out as soon as they turn 60 or 65 … then all those migrants as they get older also contribute to the [old-age] support ratio as well.
  7. CN
    Li Bin
    1. It's three years less of play time. I had originally planned to travel around after retirement.

China's Population

  1. China announces first population decline in 60 years

sources

  1. 1.The Times of India
  2. 2.CTV News
  3. 3.ABC News (Australia)
  4. 4.The New York Times
  5. 5.BBC
  6. 6.Le Monde
  7. 7.The Times
  8. 8.ABC News
  9. 9.Agence France-Presse
  10. 10.CCTV
  11. 11.Global Times
  12. 12.People's Daily China

perspectives

  1. 1.China under Xi Jinping
  2. 2.World Economy
  3. 3.Chinese Economy
  4. 4.Demography
  5. 5.Chinese Retirement Reform

countries

  1. 1.AustraliaAU
  2. 2.CanadaCA
  3. 3.ChinaCN
  4. 4.FranceFR
  5. 5.United KingdomGB
  6. 6.Hong KongHK
  7. 7.Russian FederationRU
  8. 8.UkraineUA
  9. 9.United StatesUS

organizations

  1. 1.Chinese Academy of Labour and Social Sciences
  2. 2.Chinese Academy of Sciences
  3. 3.WeiboCN
  4. 4.National People's Congress
  5. 5.Chinese Communist PartyCN
  6. 6.Communist Party
  7. 7.Standing Committee of China's National People's Congress
  8. 8.Victoria University
  9. 9.ANZ
  10. 10.Council on Foreign Relations
  11. 11.Hong Kong University of Science & Technology
  12. 12.Minister of Human Resources and Social Security

persons

  1. 1.Mo RongCN
  2. 2.Tingshu Wang
  3. 3.Wang Xiaoping
  4. 4.Xiujian PengCN
  5. 5.Caroline Chen
  6. 6.Christian Schmollinger
  7. 7.Farah Master
  8. 8.Jason Lee
  9. 9.Laura Bicker
  10. 10.Li BinCN
  11. 11.Stuart Gietel-BastenHK
  12. 12.Vivian Wang

technicals

  1. 1.Social Security
  2. 2.Third Plenum