China Rentenalter: New Retirement Age Policy Unveiled
Saturday, 14 September 2024, 15:00
China Rentenalter Policy Changes
According to the official news agency Xinhua, China has approved a plan to gradually increase the retirement age.
- Men's retirement age will rise from 60 to 63 years.
- Women will retire between 55 and 58 years based on their profession.
- The adjustment will begin in 2025 and extend over 15 years, concluding in 2040.
Addressing Demographic Challenges
This decision comes amidst a backdrop of declining birth rates and an increasing elderly population. The Chinese Communist Party previously announced plans for a "voluntary and flexible" approach to this increase as a means to tackle demographic shifts.
The minimum years of employment required for receiving pensions will also rise from 15 to 20 years by 2030.
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.