China's top legislative body has approved a proposal to raise the country's retirement age, the official Xinhua news agency said on Friday, accelerating an overhaul of decades-old laws to tackle the economic pressure of a shrinking workforce.

The retirement age will be raised for men to 63 years old from 60, while for women in white collar work it would be raised to 58 years from 55. For women in blue collar work it will be increased to 55 from 50.

The changes are set to come into force on Jan. 1, 2025 and be implemented over a 15 year period.

Having people work for longer would ease pressure on pension budgets with many Chinese provinces already reeling from large deficits. But delaying pension payouts and requiring older workers to stay at their jobs longer may not be welcomed by all of them.

TFW you combat liberalism and lose

  • Voidance [none/use name]
    ·
    6 days ago

    Not cool. Incidentally those replaced retirement ages (60 for men 55 for women) are the same as they had in the USSR.