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
Compete in what? Lowest labor compensation? usa growth is fairly ephemeral 1.5 % if one were to remove immigration influence, with some indeterminable amount of that is financialization of human relations (any time you close kindergarten and hire someone to watch a child/instead of elderly grandma you increase gdp after all).
They outproduce them already, they need to show human face instead of race to the bottom with porky, porky has colonies, you can't outcompete in that space.
And i described my ideal solution tbh: give workers a collective choice - bonuses include - (a) not a problem for government anymore (b) manufacturing consent logic - let people have lively debate about some issues not ultimately important to the state (c) same commie logic - let people decide what they want in spheres that can be offloaded from the state