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

    • Dolores [love/loves]
      ·
      2 months ago

      irrelevant for a state that should pursue gender equality, and a lower retirement for women is exactly the opposite policy that women living longer would imply

    • SeekTheDeletion [none/use name]
      ·
      2 months ago

      Then you would have them retire later, not earlier. Pensions are calculated based on remaining life expectancy at time of retirement, the older they are the higher the benefit because there’s less expected payments.

      Having women retire earlier and live longer is George-Michael stealing a dollar and also stealing a banana. It doesn’t fix the issue, it doubles it