China Rentenalter: The Government's Bold Move on Retirement Age
New Retirement Age Policy in China
China’s government has approved a significant reform regarding the China Rentenalter, mandating that citizens work longer. This adjustment is a direct response to Rising life expectancy and demographic shifts, as detailed by the official news agency Xinhua.
Details of the Reform
- Men's retirement age will gradually increase from 60 to 63 over the next 15 years.
- Women's retirement age will rise from 50 to 55 years or from 55 to 58 years based on their job profile.
- This change becomes effective on January 1, 2025, altering a setup that remained unchanged since the 1970s.
Demographic Challenges in China
China faces a pressing demographic crisis exacerbated by a low birth rate—a mere 1.09 children per woman in 2022. Nearly 300 million individuals in China are over 60, representing one-fifth of the population. Experts predict that this number could rise to 500 million by 2050, necessitating a shift in policies like China Rentenalter to support this aging population.
- Life expectancy has surged to 78 years as of 2021, up from 44 years in 1960.
- Future projections indicate it may exceed 80 years by 2050.
- The national conversation around extending the retirement age has gained traction, yet it remains a controversial topic.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.