Peng Xiujian Discusses China's New Retirement Age Policy and Worker Reactions

Thursday, 19 September 2024, 07:06

Peng Xiujian has commented on China's recent move to raise the retirement age, which is facing significant backlash from workers. This unpopular decision could impact the legitimacy of the Communist Party. The changes will affect men and women in various job sectors, leading to concerns over job security and economic challenges.

Scmp — Peng Xiujian Discusses China's New Retirement Age Policy and Worker Reactions

Workers React to New Retirement Age Under Proposal

China’s decision to increase the retirement age has sparked widespread dissatisfaction, especially among younger workers. Starting January 1, the retirement age for men will rise from 60 to 63, while women in white-collar jobs will see their retirement age increase from 55 to 58.

Major Concerns Among Workers

Younger workers express fears over job security and diminishing opportunities.
Frustrations arise regarding the inequities between public and private sector pension schemes.
Public sentiment points towards a lack of consultation in crafting this policy.

Expert Opinions on the Policy's Implications

According to Alfred Wu from the National University of Singapore, the ruling Communist Party risks losing legitimacy due to this unpopular policy. He argues that the current economic landscape exacerbates these concerns, as job opportunities dwindle. The discontent prevailing among the youth could lead to unforeseen consequences and unrest if not properly addressed.

Further concerns revolve around potential changes in pension benefits and the timeliness of the policy, which many believe does not serve the current economic climate effectively.

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.