China announced plans to gradually increase the statutory retirement age for both men and women as the country grapples with a shrinking workforce due to its aging population.
China to raise retirement age from 2025 to 63 for men, and 55 or 58 for women depending on job typeBEIJING, Sept 13 — China said Friday it would gradually raise its statutory retirement age , state news agency Xinhua reported, as the country faces a looming demographic crisis and an ageing population.
For women workers the retirement age will be extended “from the original 50 or 55 years to 55 and 58 years, respectively”, depending on the type of job.“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,” Xinhua said.
Retirement Age China Demographics Elderly Population Workforce
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