China will gradually increase the retirement age

The Chinese government is working on a detailed plan to increase the retirement ageannounced You Jun, the country’s vice minister of Human Resources and Social Security.

You told a press conference that the ministry, together with other relevant government departments, will solicit opinions and ideas from all parties to carry out the plan, to ensure its feasibility and smooth implementation. Xinhua.

In a proposal to formulate the XIV Plan Quinquenal (2021-2025) Introduced last year, the Chinese leadership has called for the legal retirement age to be raised gradually.

You pointed out that Raising the retirement age gradually is an important decision made on China’s overall economic and social development, which will improve the use of the country’s human resources, improve the sustainability of the social insurance system and guarantee the basic life of the population.

Currently, in China, the retirement age for men is 60, while for women it is 55 for administrative workers and 50 for female workers.

With great social and economic progress in China, the retirement age, which was set in the 1950s, is relatively low, according to You, who cited a longer average life expectancy, as well as changes in the demographic structure and the supply and demand of labor.

The plan will be based on international experiences and practices and will fully consider China’s own condition, traditions and history, he added.

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