China Reviews Plan to Gradually Raise Retirement Age

Lawmakers aim to address shrinking workforce and pension deficits through phased implementation.

Plan aims to mitigate impact of aging population and declining birth rates.
Current retirement ages are among the lowest globally, unchanged since the 1950s.
Proposal includes voluntary, flexible options for older workers to stay employed longer.
Government measures to combat age discrimination in the job market are underway.
Potential pension system shortfalls add urgency to reform efforts.