CHINA China says working on plan to raise retirement age

CHINA

China says working on plan to raise retirement age

Xinhua

18:41, February 26, 2021

An elderly woman plays badminton at Jingshan Park in Beijing on July 20, 2020. (Photo: chinadaily.com.cn)

BEIJING - The Chinese government is working on a detailed plan to raise the retirement age, the country's vice human resource minister said Friday.

You Jun, vice minister of human resources and social security, told a press conference that the ministry, together with other relevant government departments, will solicit opinions and ideas from all sides in making the plan to ensure its feasibility and smooth implementation.

In a proposal for formulating the 14th Five-Year Plan (2021-2025) unveiled last year, the Chinese leadership has called for raising the statutory retirement age in a gradual manner.

You said raising the retirement age in a gradual manner is a major decision made upon China's overall economic and social development, which will improve the use of China's human resources, enhance the sustainability of the social insurance system and ensure basic living of the people.

Currently, in China, the retirement age for men is 60, while for women it is 55 for white-collar workers and 50 for blue-collar employees.

With great social and economic progress taking place in China, the retirement age, which was set in the 1950s, is relatively low, according to You, who cited longer average life expectancy as well as changes in demographic structure and the supply and demand of labor.

The plan will both draw on international experiences and practices and fully consider China's own condition, traditions and history, You said.

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