China’s retirement age is one of the lowest in the world, by the way: https://en.m.wikipedia.org/wiki/Retirement_age
“The new retirement age was announced on 13 September 2024 and is now 63 for men, 58 for female civil servants and 55 for female workers. It will take effect on 1 January 2025. Previously, the retirement age was 60 for men, 55 for female civil servants, and 50 for female workers.[27] The 2024 change marked the first increase of the retirement age since the 1950s.[28] The retirement age will apply to men born in and after 1965, female civil servants born in and after 1970 and female workers born in or after 1975. The retirement age increase is based on the individual’s year and month of birth, as it increases by 1 month for every 4-month-block months of birth for males and female civil servants and 1 month for every 2-month-block for female workers until 2040. It is expected to be fully phased in for male workers born in September 1976, female civil servants born in September 1981 and female workers born in November 1984. The New regulation also stipulates that those affected by the change may voluntarily reduce their retirement age by up to 3 years if they have made the minimum length of pension payments, or delay their retirements by up to 3 years if permitted by the employer. The minimum pension payment period will also be increased from 15 years to 20 from 2030.”
The gradual increase is good, means that nobody nearing retirement age will suddenly have to work more additional years they weren’t expecting to, unlike in western countries which raise the age. Still not ideal but I’m sure the government looked at all possible alternatives in depth before coming to the decision.
As per CGTN the increase will take place over 15 years btw, I trust them over Wikipedia and assume at this moment that Wikipedia means the new policy will start taking effect in Jan 2025.
China’s retirement age is one of the lowest in the world, by the way: https://en.m.wikipedia.org/wiki/Retirement_age “The new retirement age was announced on 13 September 2024 and is now 63 for men, 58 for female civil servants and 55 for female workers. It will take effect on 1 January 2025. Previously, the retirement age was 60 for men, 55 for female civil servants, and 50 for female workers.[27] The 2024 change marked the first increase of the retirement age since the 1950s.[28] The retirement age will apply to men born in and after 1965, female civil servants born in and after 1970 and female workers born in or after 1975. The retirement age increase is based on the individual’s year and month of birth, as it increases by 1 month for every 4-month-block months of birth for males and female civil servants and 1 month for every 2-month-block for female workers until 2040. It is expected to be fully phased in for male workers born in September 1976, female civil servants born in September 1981 and female workers born in November 1984. The New regulation also stipulates that those affected by the change may voluntarily reduce their retirement age by up to 3 years if they have made the minimum length of pension payments, or delay their retirements by up to 3 years if permitted by the employer. The minimum pension payment period will also be increased from 15 years to 20 from 2030.”
The gradual increase is good, means that nobody nearing retirement age will suddenly have to work more additional years they weren’t expecting to, unlike in western countries which raise the age. Still not ideal but I’m sure the government looked at all possible alternatives in depth before coming to the decision.
still sucks tho
As per CGTN the increase will take place over 15 years btw, I trust them over Wikipedia and assume at this moment that Wikipedia means the new policy will start taking effect in Jan 2025.