China plans to gradually increase its retirement age to address rising pension budget pressures and an aging population.
China plans to gradually increase its statutory retirement age to address rising pension budget pressures, falling birth rates, and an aging population. With life expectancy increasing, the current retirement age of 60 for men and 55 for women will be raised, allowing voluntary participation and flexibility. This aims to complete by 2029, as China faces growing challenges from an ageing population and shrinking workforce.
July 22, 2024
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