China’s retirement age to be gradually raised

CGTN Europe

China will gradually raise the statutory retirement age from 50 to 55 for women in blue-collar jobs, and from 55 to 58 for females in white-collar jobs. Men’s retirement age will see an increase from 60 to 63.

Transcript

00:00The decision taken during the 11th session of the Standing Committee of the 14th National People's Congress

00:07states that over the course of 15 years, starting in 2025,

00:11China will gradually raise the retirement age for men from 60 to 63,

00:16and for women in white-collar and blue-collar work from 55 to 58, and 50 to 55, respectively.

00:24The document adds that from 2030,

00:26the minimum years for employees to pay into their pension accounts

00:30will be gradually extended from the current 15 years to 20 years.

00:34An official from the Chinese Ministry of Human Resources and Social Security said

00:38the new decision has been made based on the current life expectancy,

00:42years of schooling, and the relationship between labor supply and demand.

00:46The average life expectancy has been raised from 40 years in the early days of the People's Republic of China

00:57to the current 78 years.

00:59The average number of years for education for the labor force has also been increased to 14 years.

01:05There is a prominent delay in the age at which people join the workforce.

01:10Officials say policies will be put in place to improve the pension insurance system

01:15and strengthen the protection of older workers.

01:21We will further strengthen occupational health monitoring, analysis,

01:25and understanding of the health status of workers,

01:28preventing occupational diseases and health risks among older workers.

01:32The system of health care services will be continuously improved

01:36based on the needs of older employees.

01:39Officials stress the decision will be introduced based on the principle of

01:43voluntary participation with appropriate flexibility

01:46and will unfold in a prudent and orderly manner.

01:49China's retirement age is among the world's lowest

01:53despite of the significantly increased life expectancy.

01:56In 2023, China's population aged 60 and above reached 297 million,

02:02accounting for over 20% of the total population.

02:06Analysts said delay in retirement is a necessary choice

02:09to adapt to China's demographic change and is also a global mainstream practice.

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