China to Gradually Raise Retirement Age Amid Public Backlash
The new policy, starting in 2025, aims to address economic pressures from an aging population and a shrinking workforce.
- China will increase the retirement age from 60 to 63 for men and from 50-55 to 55-58 for women, with the changes phased in over 15 years.
- The policy has sparked significant public criticism, particularly among younger generations who feel burdened by the extended work period.
- China's pension system is under strain due to a rapidly aging population and one of the world's lowest birth rates, necessitating urgent reforms.
- The new retirement age policy aims to ease pressure on pension funds but is seen as unfair, especially given the disparity between public and corporate sector pensions.
- Chinese social media has been flooded with concerns about the long-term implications of the reforms, with many fearing increased job competition and inadequate social safety nets.